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Intuit (INTU) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Intuit (INTU - Free Report) closed at $562.18 in the latest trading session, marking a -0.41% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.2% for the day. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 0.59%.
The maker of TurboTax, QuickBooks and other accounting software's stock has climbed by 12% in the past month, exceeding the Computer and Technology sector's gain of 10.56% and the S&P 500's gain of 7.87%.
The investment community will be paying close attention to the earnings performance of Intuit in its upcoming release. The company is slated to reveal its earnings on November 28, 2023. It is anticipated that the company will report an EPS of $1.98, marking a 19.28% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.87 billion, reflecting a 10.69% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.39 per share and revenue of $16.02 billion. These totals would mark changes of +13.82% and +11.48%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Intuit is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Intuit is currently trading at a Forward P/E ratio of 34.45. This signifies a premium in comparison to the average Forward P/E of 29.61 for its industry.
We can additionally observe that INTU currently boasts a PEG ratio of 2.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computer - Software industry stood at 2.47 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Intuit (INTU - Free Report) closed at $562.18 in the latest trading session, marking a -0.41% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.2% for the day. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 0.59%.
The maker of TurboTax, QuickBooks and other accounting software's stock has climbed by 12% in the past month, exceeding the Computer and Technology sector's gain of 10.56% and the S&P 500's gain of 7.87%.
The investment community will be paying close attention to the earnings performance of Intuit in its upcoming release. The company is slated to reveal its earnings on November 28, 2023. It is anticipated that the company will report an EPS of $1.98, marking a 19.28% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.87 billion, reflecting a 10.69% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.39 per share and revenue of $16.02 billion. These totals would mark changes of +13.82% and +11.48%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Intuit is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Intuit is currently trading at a Forward P/E ratio of 34.45. This signifies a premium in comparison to the average Forward P/E of 29.61 for its industry.
We can additionally observe that INTU currently boasts a PEG ratio of 2.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computer - Software industry stood at 2.47 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.