Intuit (NASDAQ:INTU) Releases FY 2020 Earnings Guidance

Intuit (NASDAQ:INTU) updated its FY 2020 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.50-7.60 for the period, compared to the Thomson Reuters consensus estimate of $7.54. 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 FY20 guidance to $7.50-7.60 EPS.

Several research analysts have weighed in on the stock. Citigroup increased their target price on shares of Intuit from $250.00 to $285.00 and gave the stock a neutral rating in a research note on Friday. Credit Suisse Group reaffirmed an outperform rating and set a $300.00 target price (up previously from $265.00) on shares of Intuit in a research note on Friday. Barclays increased their target price on shares of Intuit from $245.00 to $276.00 and gave the stock an equal weight rating in a research note on Friday. BidaskClub raised shares of Intuit from a buy rating to a strong-buy rating in a research note on Tuesday, July 9th. Finally, ValuEngine lowered shares of Intuit from a strong-buy rating to a buy rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $268.10.

NASDAQ INTU opened at $286.14 on Friday. The firm has a 50 day simple moving average of $276.26 and a 200-day simple moving average of $257.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. Intuit has a one year low of $182.61 and a one year high of $284.97. The firm has a market cap of $70.73 billion, a price-to-earnings ratio of 63.17, a PEG ratio of 2.74 and a beta of 1.10.

Intuit (NASDAQ:INTU) last posted 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 ($0.46) by $0.37. 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 firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts predict that Intuit will post 5.49 EPS for the current fiscal year.

In related news, Chairman Scott D. Cook sold 103,817 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $258.59, for a total value of $26,846,038.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 directly owns 10,628 shares in the company, valued at approximately $2,723,637.56. The disclosure for this sale can be found here. In the last three months, insiders sold 277,296 shares of company stock valued at $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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