Intuit (NASDAQ:INTU) Issues FY20 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its FY20 earnings guidance on Thursday morning. The company provided EPS guidance of $7.50-7.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.55. The company issued revenue guidance of $7.44-7.54 billion, compared to the consensus revenue estimate of $7.44 billion.Intuit also updated its FY 2020 guidance to $7.50-7.60 EPS.

INTU stock traded down $0.53 during trading on Thursday, hitting $275.71. 1,406,522 shares of the company’s stock traded hands, compared to its average volume of 1,419,328. Intuit has a 52 week low of $182.61 and a 52 week high of $284.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. The business has a fifty day simple moving average of $276.26 and a 200 day simple moving average of $257.27. The stock has a market capitalization of $71.09 billion, a price-to-earnings ratio of 60.86, a P/E/G ratio of 2.75 and a beta of 1.10.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The business had revenue of $994.00 million during the quarter, compared to analyst estimates of $964.02 million. During the same quarter last year, the business earned $0.32 earnings per share. Intuit’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts forecast that Intuit will post 5.49 earnings per share for the current fiscal year.

INTU has been the subject of several research reports. ValuEngine lowered shares of Intuit from a strong-buy rating to a buy rating in a research report on Friday, April 26th. KeyCorp increased their price objective on shares of Intuit from $280.00 to $285.00 and gave the company an overweight rating in a research report on Friday, May 24th. UBS Group increased their price objective on shares of Intuit from $245.00 to $260.00 and gave the company a neutral rating in a research report on Friday, May 24th. Credit Suisse Group increased their price objective on shares of Intuit from $260.00 to $265.00 and gave the company an outperform rating in a research report on Friday, May 24th. Finally, Barclays increased their price objective on shares of Intuit from $225.00 to $237.00 and gave the company an equal weight rating in a research report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $254.15.

In related news, CFO Michelle M. Clatterbuck sold 10,628 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the transaction, the chief financial officer now owns 10,628 shares of the company’s stock, valued at approximately $2,723,637.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Scott D. Cook sold 29,517 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $261.67, for a total transaction of $7,723,713.39. The disclosure for this sale can be found here. In the last three months, insiders sold 277,296 shares of company stock worth $72,342,898. Insiders own 4.60% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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