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In the latest trading session, Intuit (INTU - Free Report) closed at $522.38, marking a +1.65% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.1%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.08%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a loss of 4.85% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.55% and the S&P 500's gain of 1.72%.
The investment community will be closely monitoring the performance of Intuit in its forthcoming earnings report. The company is scheduled to release its earnings on November 28, 2023. In that report, analysts expect Intuit to post earnings of $1.98 per share. This would mark year-over-year growth of 19.28%. 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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. Recent revisions tend to reflect the latest 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Intuit presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Intuit is currently exchanging hands at a Forward P/E ratio of 31.36. For comparison, its industry has an average Forward P/E of 26.83, which means Intuit is trading at a premium to the group.
It is also worth noting that INTU currently has a PEG ratio of 2.14. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.29 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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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Why Intuit (INTU) Outpaced the Stock Market Today
In the latest trading session, Intuit (INTU - Free Report) closed at $522.38, marking a +1.65% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.1%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.08%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a loss of 4.85% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.55% and the S&P 500's gain of 1.72%.
The investment community will be closely monitoring the performance of Intuit in its forthcoming earnings report. The company is scheduled to release its earnings on November 28, 2023. In that report, analysts expect Intuit to post earnings of $1.98 per share. This would mark year-over-year growth of 19.28%. 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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. Recent revisions tend to reflect the latest 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Intuit presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Intuit is currently exchanging hands at a Forward P/E ratio of 31.36. For comparison, its industry has an average Forward P/E of 26.83, which means Intuit is trading at a premium to the group.
It is also worth noting that INTU currently has a PEG ratio of 2.14. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.29 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.