Intuit Inc. (NASDAQ:INTU) to Post FY2022 Earnings of $8.16 Per Share, Oppenheimer Forecasts

Intuit Inc. (NASDAQ:INTUGet Rating) – Equities researchers at Oppenheimer upped their FY2022 EPS estimates for shares of Intuit in a research note issued on Wednesday, May 25th. Oppenheimer analyst S. Schneeberger now forecasts that the software maker will post earnings of $8.16 per share for the year, up from their previous forecast of $7.93. Oppenheimer also issued estimates for Intuit’s Q4 2022 earnings at $0.00 EPS and FY2023 earnings at $8.47 EPS.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings results on Tuesday, May 24th. The software maker reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.07. Intuit had a net margin of 19.44% and a return on equity of 20.77%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company earned $5.45 earnings per share. The business’s revenue was up 35.0% compared to the same quarter last year.

Several other equities research analysts also recently commented on INTU. StockNews.com started coverage on shares of Intuit in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group cut their price target on Intuit from $790.00 to $700.00 and set a “buy” rating for the company in a report on Friday, February 25th. The Goldman Sachs Group cut their price target on Intuit from $715.00 to $615.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Wells Fargo & Company dropped their price objective on Intuit from $635.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Finally, Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $492.00 price objective for the company in a report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Buy” and a consensus target price of $558.84.

Shares of NASDAQ:INTU opened at $422.48 on Monday. Intuit has a 52 week low of $339.36 and a 52 week high of $716.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.18 and a current ratio of 1.63. The company’s fifty day moving average is $434.51 and its 200-day moving average is $522.54. The company has a market capitalization of $119.17 billion, a PE ratio of 47.90, a P/E/G ratio of 3.27 and a beta of 1.16.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 18th. Stockholders of record on Monday, July 11th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, July 8th. Intuit’s payout ratio is presently 30.84%.

In related news, EVP Laura A. Fennell sold 59,286 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James Alexander Chriss sold 984 shares of the stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $386.29, for a total value of $380,109.36. Following the completion of the sale, the executive vice president now owns 343 shares in the company, valued at approximately $132,497.47. The disclosure for this sale can be found here. Corporate insiders own 3.27% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Intuit by 3.7% during the first quarter. BlackRock Inc. now owns 26,048,746 shares of the software maker’s stock valued at $12,525,279,000 after purchasing an additional 919,626 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Intuit by 6.4% during the first quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock valued at $11,572,950,000 after buying an additional 1,446,489 shares during the last quarter. State Street Corp boosted its position in shares of Intuit by 1.8% during the first quarter. State Street Corp now owns 11,739,798 shares of the software maker’s stock valued at $5,644,964,000 after buying an additional 210,562 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intuit by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock valued at $3,158,032,000 after buying an additional 336,690 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in Intuit by 2.8% in the first quarter. Brown Advisory Inc. now owns 3,823,715 shares of the software maker’s stock worth $1,962,730,000 after purchasing an additional 103,642 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

About Intuit (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.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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