Intuit (NASDAQ:INTU) Issues Q4 2022 Earnings Guidance

Intuit (NASDAQ:INTUGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.94-$1.00 for the period, compared to the consensus EPS estimate of $0.96. The company issued revenue guidance of $2.33 billion-$2.36 billion, compared to the consensus revenue estimate of $2.11 billion.Intuit also updated its FY 2022 guidance to $11.68-$11.74 EPS.

NASDAQ:INTU opened at $408.97 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $115.36 billion, a P/E ratio of 46.37, a PEG ratio of 3.17 and a beta of 1.15. The company has a 50 day moving average price of $428.13 and a 200 day moving average price of $512.93. Intuit has a fifty-two week low of $339.36 and a fifty-two week high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings data 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. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Intuit had a net margin of 19.44% and a return on equity of 20.77%. The firm’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the company posted $5.45 EPS. Research analysts forecast that Intuit will post 8.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 18th. Shareholders of record on Monday, July 11th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, July 8th. This represents a $2.72 dividend on an annualized basis and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 30.84%.

A number of research firms have issued reports on INTU. Barclays reduced their target price on shares of Intuit from $585.00 to $480.00 and set an overweight rating on the stock in a report on Friday, May 20th. Oppenheimer reduced their target price on shares of Intuit to $476.00 in a report on Wednesday, May 25th. Edward Jones upgraded shares of Intuit from a hold rating to a buy rating in a report on Friday, March 11th. Zacks Investment Research upgraded shares of Intuit from a hold rating to a buy rating and set a $492.00 price objective on the stock in a report on Wednesday, March 2nd. Finally, Jefferies Financial Group reduced their price objective on shares of Intuit from $790.00 to $700.00 and set a buy rating on the stock in a report on Friday, February 25th. One equities research analyst has rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $558.84.

In other Intuit news, EVP James Alexander Chriss sold 984 shares of the firm’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $386.29, for a total transaction of $380,109.36. Following the transaction, the executive vice president now directly owns 343 shares of the company’s stock, valued at approximately $132,497.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.27% of the company’s stock.

Several large investors have recently modified their holdings of INTU. Capital World Investors boosted its holdings in shares of Intuit by 140.3% in the first quarter. Capital World Investors now owns 859,308 shares of the software maker’s stock valued at $413,190,000 after acquiring an additional 501,656 shares in the last quarter. Durable Capital Partners LP boosted its holdings in shares of Intuit by 8.7% in the first quarter. Durable Capital Partners LP now owns 1,422,541 shares of the software maker’s stock valued at $684,015,000 after acquiring an additional 113,435 shares in the last quarter. Barclays PLC boosted its holdings in shares of Intuit by 5.3% in the fourth quarter. Barclays PLC now owns 1,179,139 shares of the software maker’s stock valued at $758,444,000 after acquiring an additional 59,417 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Intuit by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after acquiring an additional 48,196 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Intuit by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 2,950,513 shares of the software maker’s stock valued at $1,591,832,000 after acquiring an additional 44,000 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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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