Intuit (NASDAQ:INTU) Issues Q1 2020 Earnings Guidance

Intuit (NASDAQ:INTU) updated its first quarter 2020 earnings guidance on Thursday. The company provided EPS guidance of $0.23-0.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.34. The company issued revenue guidance of $1.105-1.125 billion, compared to the consensus revenue estimate of $1.12 billion.Intuit also updated its FY 2020 guidance to $7.50-7.60 EPS.

Several brokerages recently commented on INTU. KeyCorp lifted their price objective on Intuit from $280.00 to $285.00 and gave the stock an overweight rating in a report on Friday, May 24th. Stifel Nicolaus boosted their price objective on Intuit from $258.00 to $290.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Barclays boosted their price objective on Intuit from $225.00 to $237.00 and gave the company an equal weight rating in a research report on Friday, May 24th. Credit Suisse Group boosted their price objective on Intuit from $260.00 to $265.00 and gave the company an outperform rating in a research report on Friday, May 24th. Finally, Zacks Investment Research downgraded Intuit from a buy rating to a hold rating and set a $268.00 price objective on the stock. in a research report on Wednesday, May 29th. Three investment 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 stock. The stock presently has an average rating of Buy and a consensus price target of $254.15.

NASDAQ:INTU traded down $0.53 during midday trading on Thursday, hitting $275.71. The stock had a trading volume of 1,406,522 shares, compared to its average volume of 1,419,328. Intuit has a one year low of $182.61 and a one year high of $284.97. The company has a market capitalization of $71.09 billion, a price-to-earnings ratio of 60.86, a PEG ratio of 2.75 and a beta of 1.10. The stock has a 50-day moving average of $276.14 and a 200 day moving average of $256.96. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.43. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $4.82 earnings per share. Intuit’s revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit will post 5.49 earnings per share for the current fiscal year.

In other Intuit news, CFO Michelle M. Clatterbuck sold 10,628 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the completion of the sale, the chief financial officer now owns 10,628 shares in the company, valued at $2,723,637.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Scott D. Cook sold 103,817 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $258.59, for a total value of $26,846,038.03. 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. 4.60% of the stock is owned by insiders.

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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