Intuit (NASDAQ:INTU) Issues FY20 Earnings Guidance

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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.

NASDAQ INTU traded down $0.53 on Thursday, hitting $275.71. 1,406,522 shares of the stock traded hands, compared to its average volume of 1,419,328. The stock has a 50-day moving average of $276.26 and a 200 day moving average of $257.27. Intuit has a twelve month low of $182.61 and a twelve month high of $284.97. The company has a market capitalization of $71.09 billion, a P/E ratio of 60.86, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The firm had revenue of $994.00 million for the quarter, compared to analysts’ expectations of $964.02 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Intuit’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that Intuit will post 5.49 earnings per share for the current year.

Several analysts have issued reports on INTU shares. ValuEngine cut Intuit from a strong-buy rating to a buy rating in a research note on Friday, April 26th. Barclays upped their price objective on Intuit from $225.00 to $237.00 and gave the company an equal weight rating in a research note on Friday, May 24th. Zacks Investment Research cut Intuit from a buy rating to a hold rating and set a $268.00 price objective on the stock. in a research note on Wednesday, May 29th. UBS Group upped their price objective on Intuit from $245.00 to $260.00 and gave the company a neutral rating in a research note on Friday, May 24th. Finally, KeyCorp upped their price objective on Intuit from $280.00 to $285.00 and gave the company an overweight rating in a research note on Friday, May 24th. Three equities 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 assigned a strong buy rating to the company. Intuit presently has a consensus rating of Buy and a consensus price target of $254.15.

In related news, CFO Michelle M. Clatterbuck sold 10,628 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total value of $2,723,637.56. Following the completion of the transaction, the chief financial officer now directly owns 10,628 shares of the company’s stock, valued at approximately $2,723,637.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott D. Cook sold 133,334 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $262.87, for a total value of $35,049,508.58. The disclosure for this sale can be found here. Insiders have sold 277,296 shares of company stock valued at $72,342,898 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Intuit Company Profile

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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