In the latest trading session, Intuit (INTU) closed at $393.97, marking a -0.69% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.72%. Elsewhere, the Dow lost 1.62%, while the tech-heavy Nasdaq added 0.01%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 14.84% over the past month, lagging the Computer and Technology sector's loss of 11.99% and the S&P 500's loss of 9.09% in that time.
Wall Street will be looking for positivity from Intuit as it approaches its next earnings report date. On that day, Intuit is projected to report earnings of $1.24 per share, which would represent a year-over-year decline of 18.95%. Meanwhile, our latest consensus estimate is calling for revenue of $2.49 billion, up 24.21% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.71 per share and revenue of $14.54 billion. These totals would mark changes of +15.7% and +14.23%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 1.91% higher. Intuit is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Intuit is holding a Forward P/E ratio of 28.94. This valuation marks a premium compared to its industry's average Forward P/E of 23.4.
Also, we should mention that INTU has a PEG ratio of 1.81. 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 was holding an average PEG ratio of 1.95 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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