Intuit (NASDAQ:INTU) Issues FY 2024 Earnings Guidance

Intuit (NASDAQ:INTU) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 16.790-16.840 for the period, compared to the consensus earnings per share estimate of 16.410. The company issued revenue guidance of $16.2 billion-$16.2 billion, compared to the consensus revenue estimate of $16.1 billion. Intuit also updated its Q4 2024 guidance to 1.800-1.850 EPS.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $606.99 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $634.59 and a 200 day moving average price of $622.12. Intuit has a 52 week low of $400.22 and a 52 week high of $676.62. The company has a market cap of $169.68 billion, a P/E ratio of 56.00, a PEG ratio of 3.70 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $8.63 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $0.51. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the previous year, the business earned $7.80 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts predict that Intuit will post 11.28 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s dividend payout ratio is presently 33.21%.

Analysts Set New Price Targets

Several research firms recently weighed in on INTU. Stifel Nicolaus dropped their price objective on Intuit from $720.00 to $690.00 and set a buy rating for the company in a research note on Friday. UBS Group increased their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a neutral rating in a research note on Monday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. Morgan Stanley increased their price target on shares of Intuit from $680.00 to $740.00 and gave the company an overweight rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group raised their price objective on shares of Intuit from $760.00 to $770.00 and gave the stock a buy rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $679.41.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.