Intuit (INTU) Set to Announce Earnings on Thursday

Intuit (NASDAQ:INTU) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, November 21st. Analysts expect Intuit to post earnings of $2.36 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. On average, analysts expect Intuit to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Intuit Price Performance

Shares of NASDAQ INTU opened at $678.81 on Tuesday. The stock has a market cap of $190.26 billion, a PE ratio of 64.96, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. Intuit has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a fifty day moving average of $634.11 and a 200-day moving average of $630.65.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTU. Scotiabank initiated coverage on Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 price target for the company. Stifel Nicolaus upped their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.06.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. Company 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.