Yahoo Finance Intuit (INTU) Outperforms Broader Market: What You Need to Know
The latest trading session saw Intuit (INTU) ending at $635.49, denoting a +0.73% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 1.43% over the past month, outpacing the Computer and Technology sector's loss of 5.13% and the S&P 500's loss of 3.01% in that time.
Market participants will be closely following the financial results of Intuit in its upcoming release. The company is expected to report EPS of $9.34, up 4.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.64 billion, up 10.34% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.41 per share and revenue of $16.04 billion, indicating changes of +13.96% and +11.65%, respectively, compared to the previous 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Intuit holds a Zacks Rank of #3 (Hold).
In the context of valuation, Intuit is at present trading with a Forward P/E ratio of 38.45. This signifies a premium in comparison to the average Forward P/E of 28.66 for its industry.
We can additionally observe that INTU currently boasts a PEG ratio of 2.64. 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. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.28.
The Computer - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Intuit Inc. (INTU) : Free Stock Analysis Report
