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Intuit (INTU) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Intuit (INTU - Free Report) closed at $662.42, marking a -1.11% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.74%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.76%.
Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 5.39% outpaced the Computer and Technology sector's gain of 0.14% and the S&P 500's gain of 0.79%.
The upcoming earnings release of Intuit will be of great interest to investors. The company's earnings per share (EPS) are projected to be $3.65, reflecting a 9.94% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.53 billion, indicating a 14.23% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $23.1 per share and revenue of $21.12 billion, which would represent changes of +14.64% and +12.16%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Intuit boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Intuit is currently exchanging hands at a Forward P/E ratio of 29. Its industry sports an average Forward P/E of 23.86, so one might conclude that Intuit is trading at a premium comparatively.
We can also see that INTU currently has a PEG ratio of 2.04. 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. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 1.95.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Intuit (INTU) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Intuit (INTU - Free Report) closed at $662.42, marking a -1.11% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.74%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.76%.
Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 5.39% outpaced the Computer and Technology sector's gain of 0.14% and the S&P 500's gain of 0.79%.
The upcoming earnings release of Intuit will be of great interest to investors. The company's earnings per share (EPS) are projected to be $3.65, reflecting a 9.94% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.53 billion, indicating a 14.23% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $23.1 per share and revenue of $21.12 billion, which would represent changes of +14.64% and +12.16%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Intuit boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Intuit is currently exchanging hands at a Forward P/E ratio of 29. Its industry sports an average Forward P/E of 23.86, so one might conclude that Intuit is trading at a premium comparatively.
We can also see that INTU currently has a PEG ratio of 2.04. 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. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 1.95.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.