We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Intuit (INTU) Stock Moves -3.37%: What You Should Know
Read MoreHide Full Article
Intuit (INTU - Free Report) closed at $656.04 in the latest trading session, marking a -3.37% move from the prior day. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq gained 0.55%.
Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 0.58% lagged the Computer and Technology sector's gain of 6.92% and the S&P 500's gain of 3.83%.
Market participants will be closely following the financial results of Intuit in its upcoming release. It is anticipated that the company will report an EPS of $3.1, marking a 24% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.76 billion, indicating a 14.55% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $23.09 per share and revenue of $21.1 billion, indicating changes of +14.59% and +12.07%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been no change in the Zacks Consensus EPS estimate. Intuit is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Intuit is currently being traded at a Forward P/E ratio of 29.41. This represents no noticeable deviation compared to its industry average Forward P/E of 29.41.
It's also important to note that INTU currently trades at a PEG ratio of 1.95. 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 2.16 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Intuit (INTU) Stock Moves -3.37%: What You Should Know
Intuit (INTU - Free Report) closed at $656.04 in the latest trading session, marking a -3.37% move from the prior day. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq gained 0.55%.
Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 0.58% lagged the Computer and Technology sector's gain of 6.92% and the S&P 500's gain of 3.83%.
Market participants will be closely following the financial results of Intuit in its upcoming release. It is anticipated that the company will report an EPS of $3.1, marking a 24% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.76 billion, indicating a 14.55% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $23.09 per share and revenue of $21.1 billion, indicating changes of +14.59% and +12.07%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been no change in the Zacks Consensus EPS estimate. Intuit is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Intuit is currently being traded at a Forward P/E ratio of 29.41. This represents no noticeable deviation compared to its industry average Forward P/E of 29.41.
It's also important to note that INTU currently trades at a PEG ratio of 1.95. 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 2.16 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.