Intuit (NASDAQ:INTU) Issues Q4 2024 Earnings Guidance

Intuit (NASDAQ:INTU) updated its fourth quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.800-1.850 for the period, compared to the consensus EPS estimate of 1.930. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.0 billion. Intuit also updated its FY 2024 guidance to 16.790-16.840 EPS.

Intuit Stock Performance

INTU opened at $606.99 on Monday. The stock’s 50 day simple moving average is $634.59 and its 200-day simple moving average is $622.12. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a market cap of $169.68 billion, a PE ratio of 56.00, a P/E/G ratio of 3.70 and a beta of 1.22. Intuit has a 1 year low of $400.22 and a 1 year high of $676.62.

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, topping analysts’ consensus estimates of $8.12 by $0.51. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter in the previous year, the company earned $7.80 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Intuit will post 11.28 EPS for the current year.

Intuit Announces Dividend

The business also recently announced 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 payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays upped their price target on Intuit from $735.00 to $745.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Stifel Nicolaus dropped their target price on shares of Intuit from $720.00 to $690.00 and set a buy rating for the company in a research report on Friday. Mizuho boosted their price target on shares of Intuit from $670.00 to $725.00 and gave the company a buy rating in a research report on Friday, February 23rd. UBS Group raised their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a neutral rating in a report on Monday, May 20th. Finally, Morgan Stanley boosted their target price on Intuit from $680.00 to $740.00 and gave the stock an overweight rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of Moderate Buy and an average price target of $679.41.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value 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 disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

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.