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Stock Update: Intuit Inc (NASDAQ:INTU) – YOUR MONEY-‘Sharing economy’ can complicate U.S. tax filings

[Reuters] – According to a recent data, Intuit Inc, the owner of the TurboTax tax-preparation software, estimates that 3.2 million Americans are already part of the sharing economy , with the number expected to grow to 7.6 million by 2020. For instance, Cara Brostrom, a 34-year-old photographer in Boston, remembers buying sheets from Ikea for the days she rented out her house on Airbnb.com, but she does not know where the receipts might be. “It’s unread in my inbox,” Brostrom says. Read more on this. Intuit Inc. (INTU) , valued at $25.35B, started the session at $95.00. Looking at the stock, its one day range is $94.00 to $96.41 and has traded between $79.63 and $109.21 over the past year. Priced at 26.44x this year’s forecasted earnings, INTU shares are relatively expensive compared to the industry ’s 6.91x forward p/e ratio. The company pays shareholders $1.20 per share in dividend income per year, for a current yield of 1.26%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $0.19 per share, which would be $0.19 worse than the year-ago quarter and a $0.15 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $3.48 would be a $0.89 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $893.48 Million. If reported, that would be a 10.58% increase over the year-ago quarter. Recently, First Analysis Sec downgraded INTU from Equal-Weight to Underweight (Aug 21, 2015). Previously, Deutsche Bank upgraded INTU from Hold to Buy. The average price target for INTU shares by the analysts covering the stock is $103.50, which is 8.95% above where the stock opened this morning. See more in (NASDAQ:INTU) Similar Articles: Stock Update: Intuit Inc (NASDAQ:INTU) – Intuit Reaches Highest Level Since Q4 Miss Stock Update: Intuit Inc (NASDAQ:INTU) – Intuit and Fundbox Partner to Tackle #1 Pain Point Faced by Small Businesses: Cash Flow Market Update: Intuit Inc (NASDAQ:INTU) – Intuit Launches Product to Help Companies Optimize On-Demand Workforces
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