Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Thursday, May 21st, Zacks reports. Stockholders of record on Friday, July 10th will be given a dividend of 0.53 per share by the software maker on Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, July 9th.
Intuit has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Intuit to earn $6.65 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 31.9%.
Intuit stock opened at $309.65 on Tuesday. The firm has a market capitalization of $80.75 billion, a PE ratio of 61.08, a P/E/G ratio of 3.89 and a beta of 1.04. The company’s 50-day moving average is $289.26 and its 200-day moving average is $272.99. Intuit has a fifty-two week low of $187.68 and a fifty-two week high of $314.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.79 and a quick ratio of 1.79.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.60 by ($0.11). The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. Intuit had a return on equity of 32.03% and a net margin of 19.50%. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.55 earnings per share. As a group, analysts expect that Intuit will post 5.98 EPS for the current year.
INTU has been the subject of several research analyst reports. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their target price on shares of Intuit from $268.00 to $249.00 and set an “underweight” rating for the company in a report on Thursday, March 26th. Royal Bank of Canada lifted their target price on shares of Intuit from $280.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Cfra downgraded shares of Intuit from a “hold” rating to a “sell” rating in a report on Monday, April 6th. Finally, KeyCorp lifted their target price on shares of Intuit from $285.00 to $315.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $306.00.
In other news, EVP James Alexander Chriss sold 337 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $291.10, for a total transaction of $98,100.70. Following the completion of the sale, the executive vice president now owns 220 shares of the company’s stock, valued at approximately $64,042. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kerry J. Mclean sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $287.09, for a total transaction of $5,167,620.00. Following the sale, the senior vice president now directly owns 23,399 shares of the company’s stock, valued at approximately $6,717,618.91. The disclosure for this sale can be found here. Corporate insiders own 4.09% of the company’s stock.
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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