INTU Stock: What to Expect from Intuit’s Earnings Report Today

INTU stock posted gains in late trade Monday and nearly took out the session highs going into the close. Shares finished up by 1.54 percent at $104.62 on heavy trading volume.

The maker of QuickBooks and TurboTax reports its fiscal 2016 third-quarter financial results after today’s close.

Expectations for the Quarter

Overall, Intuit is forecast to deliver a year-over-year increase in the top and bottom lines for the quarter ended April 30. Wall Street analysts are on average expecting the Mountain View, CA-based company to post $2.25 billion in sales during the period. This would show a 2.27% increase from the Q315 revenue of $2.20 billion. EPS in Q316 are expected to come in at $3.21, a growth rate of 12.63% from $2.85 per share a year earlier. Meanwhile, EarningsWhisper.com reports a whisper number of $3.25 per share.

As a quick reminder, Intuit (INTU) reported Q216 EPS of $0.25, $0.06 higher than the Street’s consensus estimate. Revenues increased 14.23% year-over-year to $923 million versus the $893.2 million consensus. The┬ácompany said it benefited from a solid tax season. As it stands, the $26.87 billion market cap firm has beaten the Street’s profit projections in six straight quarters.

The Bottom Line

INTU shares have advanced 2.24% in the last 4 weeks and 7.76% in the past three months. Over the past 5 trading sessions the stock has gained 0.86%. INTU has a median Street price target of $106.00 with a high target of $125.00.

On e year-over-year basis, Intuit Inc. is down 0.85%, compared with a 2.67% loss in the S&P 500.

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