Intuit (INTU) closed the most recent trading day at $763.69, moving +1.47% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.38%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a loss of 1.12% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 7.37%, and the S&P 500's gain of 5.35%.
Investors will be eagerly watching for the performance of Intuit in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.65, marking a 33.17% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.74 billion, up 17.61% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $20.06 per share and a revenue of $18.74 billion, signifying shifts of +18.42% and +15.1%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.02% higher. Intuit presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Intuit is currently being traded at a Forward P/E ratio of 37.52. This signifies a premium in comparison to the average Forward P/E of 24.91 for its industry.
One should further note that INTU currently holds a PEG ratio of 2.45. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.32 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 37, putting it in the top 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Intuit Inc. (INTU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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