Intuit (INTU) Surpasses Market Returns: Some Facts Worth Knowing
Intuit (INTU) ended the recent trading session at $653.07, demonstrating a +1.54% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.24%.
Coming into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 5.66% in the past month. In that same time, the Computer and Technology sector gained 12.39%, while the S&P 500 gained 6.45%.
The upcoming earnings release of Intuit will be of great interest to investors. The company's earnings report is expected on February 22, 2024. It is anticipated that the company will report an EPS of $2.29, marking a 4.09% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $3.39 billion, up 11.36% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $16.38 per share and a revenue of $16.04 billion, indicating changes of +13.75% and +11.63%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuit. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Intuit presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Intuit is presently being traded at a Forward P/E ratio of 39.27. This represents a premium compared to its industry's average Forward P/E of 32.
We can additionally observe that INTU currently boasts a PEG ratio of 2.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.45.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Intuit Inc. (INTU) : Free Stock Analysis Report
