Intuit (NASDAQ:INTU) Releases FY 2022 Earnings Guidance

Intuit (NASDAQ:INTUGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.68-$11.74 for the period, compared to the consensus estimate of $11.66. The company issued revenue guidance of $12.63 billion-$12.67 billion, compared to the consensus revenue estimate of $12.32 billion.Intuit also updated its Q4 2022 guidance to $0.94-$1.00 EPS.

Several equities research analysts have commented on the company. Jefferies Financial Group dropped their price target on Intuit from $790.00 to $700.00 and set a buy rating for the company in a research note on Friday, February 25th. Barclays dropped their price target on Intuit from $585.00 to $480.00 and set an overweight rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Intuit from $750.00 to $640.00 and set an overweight rating for the company in a research note on Friday, February 25th. Morgan Stanley dropped their price target on Intuit from $720.00 to $550.00 and set an overweight rating for the company in a research note on Friday. Finally, Bank of America dropped their price target on Intuit from $750.00 to $650.00 and set a buy rating for the company in a research note on Friday, February 25th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $595.95.

INTU traded down $12.40 on Tuesday, reaching $358.97. The company’s stock had a trading volume of 2,811,376 shares, compared to its average volume of 1,948,038. The stock has a market cap of $101.52 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.89 and a beta of 1.16. Intuit has a 1 year low of $339.36 and a 1 year high of $716.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day moving average is $440.81 and its 200 day moving average is $528.62.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The software maker reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). Intuit had a net margin of 19.03% and a return on equity of 20.37%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue for the quarter was up 69.6% on a year-over-year basis. As a group, research analysts forecast that Intuit will post 8.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Monday, April 11th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, April 8th. Intuit’s dividend payout ratio is presently 34.69%.

In other Intuit news, EVP James Alexander Chriss sold 368 shares of the stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $478.84, for a total transaction of $176,213.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 59,286 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total value of $28,162,628.58. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new position in shares of Intuit during the fourth quarter valued at $54,000. Carolinas Wealth Consulting LLC boosted its holdings in shares of Intuit by 24.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 222 shares of the software maker’s stock valued at $107,000 after acquiring an additional 43 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of Intuit during the fourth quarter valued at $153,000. Marshall Wace LLP acquired a new position in shares of Intuit during the fourth quarter valued at $169,000. Finally, KB Financial Partners LLC boosted its holdings in shares of Intuit by 37.6% during the first quarter. KB Financial Partners LLC now owns 315 shares of the software maker’s stock valued at $151,000 after acquiring an additional 86 shares during the period. 83.42% of the stock is owned by institutional investors.

Intuit Company Profile (Get Rating)

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 ProConnect.

See Also

Earnings History and Estimates for Intuit (NASDAQ:INTU)

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