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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 $343.39, marking a -3.24% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.
The stock of maker of TurboTax, QuickBooks and other accounting software has risen by 28.06% in the past month, leading the Computer and Technology sector's loss of 7.7% and the S&P 500's loss of 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Intuit in its upcoming earnings disclosure. The company is expected to report EPS of $2.47, down 26.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.3 billion, up 10.81% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $23.5 per share and a revenue of $23.39 billion, demonstrating changes of -3.17% and +9.07%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Intuit. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% upward. Intuit is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Intuit is currently trading at a Forward P/E ratio of 15.1. For comparison, its industry has an average Forward P/E of 17.66, which means Intuit is trading at a discount to the group.
Also, we should mention that INTU has a PEG ratio of 1.15. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 1.49.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 23% echelons of all 250+ industries.
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.
To follow INTU in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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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 $343.39, marking a -3.24% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.
The stock of maker of TurboTax, QuickBooks and other accounting software has risen by 28.06% in the past month, leading the Computer and Technology sector's loss of 7.7% and the S&P 500's loss of 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Intuit in its upcoming earnings disclosure. The company is expected to report EPS of $2.47, down 26.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.3 billion, up 10.81% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $23.5 per share and a revenue of $23.39 billion, demonstrating changes of -3.17% and +9.07%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Intuit. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% upward. Intuit is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Intuit is currently trading at a Forward P/E ratio of 15.1. For comparison, its industry has an average Forward P/E of 17.66, which means Intuit is trading at a discount to the group.
Also, we should mention that INTU has a PEG ratio of 1.15. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 1.49.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 23% echelons of all 250+ industries.
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.
To follow INTU in the coming trading sessions, be sure to utilize Zacks.com.