Intuit (NASDAQ:INTU) Issues Q1 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.33-2.38 for the period, compared to the consensus earnings per share estimate of $2.36. The company issued revenue guidance of 5-6%, compared to the consensus revenue estimate of $3.14 billion. Intuit also updated its FY25 guidance to $19.16-19.36 EPS.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INTU shares. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a buy rating in a research note on Friday, August 23rd. StockNews.com lowered shares of Intuit from a buy rating to a hold rating in a research note on Friday, September 20th. Piper Sandler reaffirmed an overweight rating and issued a $768.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, August 23rd. Stifel Nicolaus increased their price objective on Intuit from $690.00 to $795.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Finally, Barclays reduced their target price on shares of Intuit from $745.00 to $740.00 and set an overweight rating for the company in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $720.37.

Intuit Stock Performance

NASDAQ:INTU opened at $634.74 on Thursday. Intuit has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $635.93 and its 200 day simple moving average is $630.96. The firm has a market capitalization of $177.44 billion, a PE ratio of 58.56, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. On average, analysts anticipate that Intuit will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 38.38%.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,548 shares of company stock worth $33,604,124. Corporate insiders own 2.90% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.