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Here's Why Intuit (INTU) Fell More Than Broader Market
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The latest trading session saw Intuit (INTU - Free Report) ending at $599.84, denoting a -0.66% adjustment from its last day's close. This change lagged the S&P 500's 0.56% loss on the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
Shares of the maker of TurboTax, QuickBooks and other accounting software have depreciated by 2.84% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2%.
The upcoming earnings release of Intuit will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.29, reflecting a 4.09% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.39 billion, indicating a 11.36% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.38 per share and revenue of $16.04 billion, indicating changes of +13.75% and +11.63%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Intuit. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Intuit currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Intuit has a Forward P/E ratio of 36.87 right now. This signifies a premium in comparison to the average Forward P/E of 32.83 for its industry.
Also, we should mention that INTU has a PEG ratio of 2.5. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why Intuit (INTU) Fell More Than Broader Market
The latest trading session saw Intuit (INTU - Free Report) ending at $599.84, denoting a -0.66% adjustment from its last day's close. This change lagged the S&P 500's 0.56% loss on the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
Shares of the maker of TurboTax, QuickBooks and other accounting software have depreciated by 2.84% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2%.
The upcoming earnings release of Intuit will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.29, reflecting a 4.09% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.39 billion, indicating a 11.36% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.38 per share and revenue of $16.04 billion, indicating changes of +13.75% and +11.63%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Intuit. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Intuit currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Intuit has a Forward P/E ratio of 36.87 right now. This signifies a premium in comparison to the average Forward P/E of 32.83 for its industry.
Also, we should mention that INTU has a PEG ratio of 2.5. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.