Intuit (INTU) closed at $619.01 in the latest trading session, marking a -0.44% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Coming into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 1.81% in the past month. In that same time, the Computer and Technology sector gained 2.1%, while the S&P 500 gained 0.41%.
Analysts and investors alike will be keeping a close eye on the performance of Intuit in its upcoming earnings disclosure. The company's earnings report is set to go public on November 21, 2024. The company's earnings per share (EPS) are projected to be $2.36, reflecting a 4.45% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $3.14 billion, indicating a 5.4% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $19.30 per share and a revenue of $18.25 billion, indicating changes of +13.93% and +12.04%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Intuit. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Intuit possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Intuit is currently trading at a Forward P/E ratio of 32.22. This denotes a premium relative to the industry's average Forward P/E of 29.76.
Investors should also note that INTU has a PEG ratio of 2.21 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.43.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 83, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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