Intuit (NASDAQ:INTU – Get Free Report) released its earnings results on Thursday. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14, Briefing.com reports. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS.
Intuit Trading Down 6.8 %
Shares of INTU stock traded down $45.44 on Friday, reaching $619.85. 4,113,425 shares of the company’s stock were exchanged, compared to its average volume of 1,333,187. The company’s fifty day simple moving average is $639.27 and its 200 day simple moving average is $634.44. The stock has a market capitalization of $173.28 billion, a PE ratio of 57.18, a P/E/G ratio of 3.14 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a 52 week low of $473.56 and a 52 week high of $676.62.
Intuit Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio is currently 33.21%.
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Wall Street Analysts Forecast Growth
INTU has been the topic of several research analyst reports. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday. Barclays cut their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $703.27.
Read Our Latest Stock Report on Intuit
Intuit Company Profile
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.
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