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Intuit (INTU) Stock Sinks As Market Gains: What You Should Know
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Intuit (INTU - Free Report) closed at $426.21 in the latest trading session, marking a -0.33% move from the prior day. This change lagged the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.74%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 3.17% over the past month, lagging the Computer and Technology sector's gain of 3.72% and the S&P 500's gain of 0.85% in that time.
Wall Street will be looking for positivity from Intuit as it approaches its next earnings report date. This is expected to be May 23, 2023. The company is expected to report EPS of $8.45, up 10.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.09 billion, up 8.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.72 per share and revenue of $14.15 billion. These totals would mark changes of +15.78% and +11.15%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Intuit currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Intuit currently has a Forward P/E ratio of 31.17. Its industry sports an average Forward P/E of 25.16, so we one might conclude that Intuit is trading at a premium comparatively.
Meanwhile, INTU's PEG ratio is currently 2.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer - Software stocks are, on average, holding a PEG ratio of 2.06 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Intuit (INTU) Stock Sinks As Market Gains: What You Should Know
Intuit (INTU - Free Report) closed at $426.21 in the latest trading session, marking a -0.33% move from the prior day. This change lagged the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.74%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 3.17% over the past month, lagging the Computer and Technology sector's gain of 3.72% and the S&P 500's gain of 0.85% in that time.
Wall Street will be looking for positivity from Intuit as it approaches its next earnings report date. This is expected to be May 23, 2023. The company is expected to report EPS of $8.45, up 10.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.09 billion, up 8.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.72 per share and revenue of $14.15 billion. These totals would mark changes of +15.78% and +11.15%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Intuit currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Intuit currently has a Forward P/E ratio of 31.17. Its industry sports an average Forward P/E of 25.16, so we one might conclude that Intuit is trading at a premium comparatively.
Meanwhile, INTU's PEG ratio is currently 2.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer - Software stocks are, on average, holding a PEG ratio of 2.06 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.