In the latest trading session, Intuit (INTU) closed at $268.57, marking a -0.56% move from the previous day. This change lagged the S&P 500's 0.08% gain on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, added 0.38%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 0.22% over the past month, outpacing the Computer and Technology sector's loss of 3.22% and the S&P 500's loss of 3.57% in that time.
Wall Street will be looking for positivity from INTU as it approaches its next earnings report date. This is expected to be August 22, 2019. The company is expected to report EPS of -$0.14, down 143.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $961.37 million, down 2.69% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for INTU. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. INTU is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, INTU is currently trading at a Forward P/E ratio of 35.77. Its industry sports an average Forward P/E of 28.95, so we one might conclude that INTU is trading at a premium comparatively.
We can also see that INTU currently has a PEG ratio of 2.22. 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 2.01 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 81, putting it in the top 32% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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