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Company Update: Intuit Inc (NASDAQ:INTU) – Intuit Raises Its Guidance for Fiscal 2016

[at Investopedia] – Buoyed by a strong third quarter, maker of Turbo Tax, QuickBooks and other financial software products Intuit (NASDAQ: INTU) lifted its projections for annual revenue and net profit. For the quarter — … Read more on this. Intuit Inc. (INTU) , with a current value of $26.97B, opened this morning at $103.03. During the trading session, INTU traded between $101.81 to $105.95 and has traded between $79.63 and $108.20 over the past year. INTU shares are currently priced at 30.57x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 7.34x earnings multiple. The company pays shareholders $1.20 per share annually in dividends, yielding 1.15%. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $-0.01 per share, which would be $0.00 worse than the year-ago quarter and a $0.05 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 based on a consensus revenue forecast of the current quarter of $719.25 Million. If realized, that would be a 3.34% increase over the year-ago quarter. In terms of ratings, Goldman Initiated INTU at Buy (May 23, 2016). Previously, Credit Suisse Initiated INTU at to Neutral. Given all the information above, we should disclose to readers that the average price target is $106.82, which is 3.68% above than it opened this morning. See more in (NASDAQ:INTU) Similar Articles: Company Update: Intuit Inc (NASDAQ:INTU) – Intuit’s Cloud Transition Is Becoming Less Taxing 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
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