Stock Update: Intuit Inc (NASDAQ:INTU) – Intuit Slips Despite FYQ3 Earnings Beat, Higher Q4 View

[at Barrons.com] – Personal finance software giant Intuit (INTU), makers of TurboTax and other programs, this afternoon reported fiscal Q3 revenue and profit that topped analysts’ expectations, and revenue this quarter comfortably above consensus, sending its stock higher initially in after-hours trading, though the shares later gave up gains. The company’s revenue from consumer products for tax preparation rose by 7%, said Intuit. CEO Brad Smith remarked that it had been “simply a great season for TurboTax,” the company’s software product for tax preparations. Read more on this. Intuit Inc. (INTU) , currently valued at $27.56B, started trading this morning at $105.14. A quick look at the market, the company’s stock traded between $105.09 and $107.46 and has traded between $79.63 and $108.20 over the past year. Priced at 29.81x this year’s forecasted earnings, INTU shares are relatively expensive compared to the industry’s 7.34x forward p/e ratio. And for income investors, the company pays shareholders $1.20 per share annually in dividends, yielding 1.16%. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $3.21 per share, which would be $0.36 better than the year-ago quarter and a $0.06 sequential increase. What we find to be interesting is that the full-year EPS estimate of $3.51 is a $0.92 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.25 Billion. If reported, that would be a 2.74% increase over the year-ago quarter. Recently, Goldman Initiated INTU at Buy (May 23, 2016). Previously, Credit Suisse Initiated INTU at to Neutral. The average price target for INTU shares by the analysts covering the stock is $106.06, which is 0.88% above where the stock opened this morning. See more in (NASDAQ:INTU) Similar Articles: Company Update (NASDAQ:INTU): Jim Cramer — Goldman Bullish on Intuit Ahead of Earnings Company Update: Intuit Inc (NASDAQ:INTU) – Why Intuit Rose 3.58% Last Week (INTU) Stock Update: Intuit Inc (NASDAQ:INTU) – Intuit finds a buyer for its Quicken business