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Intuit (INTU) Stock Sinks As Market Gains: What You Should Know
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Intuit (INTU - Free Report) closed at $380.07 in the latest trading session, marking a -0.47% move from the prior day. This change lagged the S&P 500's daily gain of 0.48%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq lost 0.15%.
Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 4.8% over the past month. This has lagged the Computer and Technology sector's gain of 6.82% and the S&P 500's gain of 7.49% in that time.
Wall Street will be looking for positivity from Intuit as it approaches its next earnings report date. This is expected to be November 29, 2022. On that day, Intuit is projected to report earnings of $1.17 per share, which would represent a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $2.5 billion, up 24.42% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.70 per share and revenue of $14.51 billion. These totals would mark changes of +15.61% and +14%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% lower. Intuit is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Intuit's current valuation metrics, including its Forward P/E ratio of 27.89. Its industry sports an average Forward P/E of 25.24, so we one might conclude that Intuit is trading at a premium comparatively.
Also, we should mention that INTU has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.1 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow INTU in the coming trading sessions, be sure to utilize Zacks.com.
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Intuit (INTU) Stock Sinks As Market Gains: What You Should Know
Intuit (INTU - Free Report) closed at $380.07 in the latest trading session, marking a -0.47% move from the prior day. This change lagged the S&P 500's daily gain of 0.48%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq lost 0.15%.
Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 4.8% over the past month. This has lagged the Computer and Technology sector's gain of 6.82% and the S&P 500's gain of 7.49% in that time.
Wall Street will be looking for positivity from Intuit as it approaches its next earnings report date. This is expected to be November 29, 2022. On that day, Intuit is projected to report earnings of $1.17 per share, which would represent a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $2.5 billion, up 24.42% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.70 per share and revenue of $14.51 billion. These totals would mark changes of +15.61% and +14%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% lower. Intuit is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Intuit's current valuation metrics, including its Forward P/E ratio of 27.89. Its industry sports an average Forward P/E of 25.24, so we one might conclude that Intuit is trading at a premium comparatively.
Also, we should mention that INTU has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.1 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow INTU in the coming trading sessions, be sure to utilize Zacks.com.