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Here's Why Intuit (INTU) Fell More Than Broader Market
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Intuit (INTU - Free Report) closed the latest trading day at $504.03, indicating a -0.55% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 0.35% over the past month, outpacing the Computer and Technology sector's loss of 2.16% and the S&P 500's loss of 3.95% in that time.
The upcoming earnings release of Intuit will be of great interest to investors. The company is forecasted to report an EPS of $1.98, showcasing a 19.28% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.87 billion, showing a 10.69% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.39 per share and revenue of $16.02 billion, which would represent changes of +13.82% and +11.48%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Intuit is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Intuit currently has a Forward P/E ratio of 30.93. This denotes a premium relative to the industry's average Forward P/E of 27.1.
We can also see that INTU currently has a PEG ratio of 2.11. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.12.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Here's Why Intuit (INTU) Fell More Than Broader Market
Intuit (INTU - Free Report) closed the latest trading day at $504.03, indicating a -0.55% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 0.35% over the past month, outpacing the Computer and Technology sector's loss of 2.16% and the S&P 500's loss of 3.95% in that time.
The upcoming earnings release of Intuit will be of great interest to investors. The company is forecasted to report an EPS of $1.98, showcasing a 19.28% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.87 billion, showing a 10.69% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.39 per share and revenue of $16.02 billion, which would represent changes of +13.82% and +11.48%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuit. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Intuit is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Intuit currently has a Forward P/E ratio of 30.93. This denotes a premium relative to the industry's average Forward P/E of 27.1.
We can also see that INTU currently has a PEG ratio of 2.11. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computer - Software industry was having an average PEG ratio of 2.12.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.