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Intuit (INTU) Gains As Market Dips: What You Should Know
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In the latest trading session, Intuit (INTU - Free Report) closed at $496.86, marking a +0.08% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Coming into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 8.16% in the past month. In that same time, the Computer and Technology sector gained 3.63%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Intuit as it approaches its next earnings release. On that day, Intuit is projected to report earnings of $1.38 per share, which would represent year-over-year growth of 25.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.64 billion, up 9.41% from the year-ago period.
INTU's full-year Zacks Consensus Estimates are calling for earnings of $14.22 per share and revenue of $14.3 billion. These results would represent year-over-year changes of +20% and +12.35%, respectively.
It is also important to note the recent changes to analyst estimates for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Intuit is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Intuit's current valuation metrics, including its Forward P/E ratio of 34.92. Its industry sports an average Forward P/E of 29.09, so we one might conclude that Intuit is trading at a premium comparatively.
Investors should also note that INTU has a PEG ratio of 2.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. INTU's industry had an average PEG ratio of 2.44 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Intuit (INTU) Gains As Market Dips: What You Should Know
In the latest trading session, Intuit (INTU - Free Report) closed at $496.86, marking a +0.08% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Coming into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 8.16% in the past month. In that same time, the Computer and Technology sector gained 3.63%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Intuit as it approaches its next earnings release. On that day, Intuit is projected to report earnings of $1.38 per share, which would represent year-over-year growth of 25.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.64 billion, up 9.41% from the year-ago period.
INTU's full-year Zacks Consensus Estimates are calling for earnings of $14.22 per share and revenue of $14.3 billion. These results would represent year-over-year changes of +20% and +12.35%, respectively.
It is also important to note the recent changes to analyst estimates for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Intuit is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Intuit's current valuation metrics, including its Forward P/E ratio of 34.92. Its industry sports an average Forward P/E of 29.09, so we one might conclude that Intuit is trading at a premium comparatively.
Investors should also note that INTU has a PEG ratio of 2.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. INTU's industry had an average PEG ratio of 2.44 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.