Intuit Inc. (NASDAQ:INTU) – Investment analysts at Oppenheimer decreased their Q2 2018 earnings per share estimates for shares of Intuit in a report released on Sunday. Oppenheimer analyst S. Schneeberger now forecasts that the software maker will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.09. Oppenheimer currently has a “Outperform” rating and a $181.00 price target on the stock. Oppenheimer also issued estimates for Intuit’s Q3 2018 earnings at $4.38 EPS, Q4 2018 earnings at ($0.03) EPS and FY2018 earnings at $4.26 EPS.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.30. The business had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS.
Several other brokerages also recently commented on INTU. Credit Suisse Group reaffirmed an “outperform” rating and set a $185.00 price objective (up previously from $170.00) on shares of Intuit in a research note on Tuesday, January 9th. Zacks Investment Research downgraded Intuit from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Morgan Stanley raised their price objective on Intuit from $110.00 to $120.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 21st. Jefferies Group reaffirmed a “buy” rating and set a $185.00 price objective on shares of Intuit in a research note on Tuesday, November 21st. Finally, Barclays raised their price objective on Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $159.42.
Shares of Intuit (NASDAQ INTU) opened at $163.90 on Wednesday. The company has a market capitalization of $40,740.37, a price-to-earnings ratio of 42.61, a P/E/G ratio of 2.70 and a beta of 1.19. Intuit has a 12 month low of $114.80 and a 12 month high of $170.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reilly Herbert Faulkner III raised its stake in shares of Intuit by 2.0% in the 4th quarter. Reilly Herbert Faulkner III now owns 35,362 shares of the software maker’s stock valued at $5,579,000 after purchasing an additional 702 shares during the period. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Intuit by 9.2% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 45,660 shares of the software maker’s stock valued at $7,203,000 after acquiring an additional 3,856 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Intuit in the 4th quarter valued at about $683,000. Captrust Financial Advisors bought a new position in shares of Intuit in the 4th quarter valued at about $158,000. Finally, California State Teachers Retirement System grew its holdings in shares of Intuit by 6.6% in the 4th quarter. California State Teachers Retirement System now owns 439,542 shares of the software maker’s stock valued at $69,351,000 after acquiring an additional 27,319 shares in the last quarter. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Intuit news, CEO Brad D. Smith sold 110,496 shares of Intuit stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total value of $16,729,094.40. Following the sale, the chief executive officer now owns 399,246 shares of the company’s stock, valued at approximately $60,445,844.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Insiders sold a total of 965,938 shares of company stock worth $149,469,127 in the last three months. Company insiders own 5.59% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, January 9th. Intuit’s dividend payout ratio is 41.38%.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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