Intuit (INTU) closed the latest trading at $632.31, representing +0.87% change from previous day’s closing price. The stock outperformed the S&P 500, which rose 0.17% on the day. Meanwhile, the Dow Jones Industrial Average rose 0.32%, while the tech-heavy Nasdaq fell 0.03%.
Shares of the maker of TurboTax, QuickBooks and other accounting software have fallen 0.14% over the past month, lagging the Computer Technology sector’s gain of 0.39% and the S&P 500’s gain of 0.17%.
The investment community will be paying close attention to Intuit’s earnings performance in its upcoming releases. The company plans to announce its results on May 23, 2024. The company’s EPS is expected to be $9.34, up 4.71% from the year-ago period. Meanwhile, our current consensus estimate is projecting its revenue at $6.64 billion, representing a year-over-year growth of 10.25%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.41 per share and revenue of $16.04 billion, which would represent changes of +13.96% and +11.61%, respectively, from the prior year.
Investors may also notice recent changes to analyst estimates for Intuit. Recent revisions tend to reflect the latest short-term business trends. As a result, positive estimate changes indicate analysts’ positive outlook for the company’s business health and profitability.
Empirical research shows that these estimate revisions are directly correlated with impending stock movements. To benefit from this, we have created the Zacks Rank, a proprietary model that combines these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has an impressive, outside-audited history of outperformance, with #1 stocks having an average annual +25% profit. Zacks Consensus EPS estimates remained stagnant over the past month. Intuit currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Intuit currently trades at a forward P/E of 38.2. This represents a premium compared to its industry’s average Forward P/E of 29.27.
Investors should also note that INTU currently has a PEG ratio of 2.62. This popular metric is similar to the widely-known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. At yesterday’s close, Computer – Software’s average PEG ratio was 2.39.
The computer-software industry is part of the computer and technology sector. This industry currently has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank. The Zacks Industry Rank is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Track all of these stock price movement metrics and more with Zacks.com in the coming trading sessions.
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