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Intuit (INTU) Exceeds Market Returns: Some Facts to Consider
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In the latest market close, Intuit (INTU - Free Report) reached $664.28, with a +1.09% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.58%. At the same time, the Dow added 0.91%, and the tech-heavy Nasdaq gained 0.3%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a gain of 9.55% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.43% and the S&P 500's gain of 4.61%.
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 February 22, 2024. On that day, Intuit is projected to report earnings of $2.29 per share, which would represent year-over-year growth of 4.09%. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.38 per share and revenue of $16.04 billion. These totals would mark changes of +13.75% and +11.63%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Intuit. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Intuit is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Intuit is holding a Forward P/E ratio of 40.12. This indicates a premium in contrast to its industry's Forward P/E of 32.41.
It is also worth noting that INTU currently has a PEG ratio of 2.72. 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 industry had an average PEG ratio of 2.44 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Intuit (INTU) Exceeds Market Returns: Some Facts to Consider
In the latest market close, Intuit (INTU - Free Report) reached $664.28, with a +1.09% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.58%. At the same time, the Dow added 0.91%, and the tech-heavy Nasdaq gained 0.3%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a gain of 9.55% over the previous month, beating the performance of the Computer and Technology sector with its gain of 8.43% and the S&P 500's gain of 4.61%.
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 February 22, 2024. On that day, Intuit is projected to report earnings of $2.29 per share, which would represent year-over-year growth of 4.09%. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.38 per share and revenue of $16.04 billion. These totals would mark changes of +13.75% and +11.63%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Intuit. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Intuit is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Intuit is holding a Forward P/E ratio of 40.12. This indicates a premium in contrast to its industry's Forward P/E of 32.41.
It is also worth noting that INTU currently has a PEG ratio of 2.72. 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 industry had an average PEG ratio of 2.44 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.