Monday, February 24, 2014

Jefferies Group Increases Intuit Price Target to $75.00 (INTU)

Stuart Ham for Zolmax.com writes: Intuit (NASDAQ:INTU) had its target price lifted by Jefferies Group from $73.00 to $75.00 in a research note released on Friday morning, AmericanBankingNews.com reports. They currently have a hold rating on the stock.
A number of other firms have also recently commented on INTU. Analysts at Zacks downgraded shares of Intuit from a neutral rating to an underperform rating in a research note on Thursday. They now have a $71.40 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Intuit from $68.00 to $65.00 in a research note on Thursday, February 13th. Finally, analysts at Evercore Partners downgraded shares of Intuit from an equal weight rating to an underweight rating in a research note on Wednesday, February 12th. They now have a $62.00 price target on the stock, up previously from $10.00. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $72.79.
Shares of Intuit (NASDAQ:INTU) opened at 77.24 on Friday. Intuit has a 52 week low of $55.54 and a 52 week high of $78.74. The stock’s 50-day moving average is $73.99 and its 200-day moving average is $70.44. The company has a market cap of $21.936 billion and a price-to-earnings ratio of 28.76.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.12. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $778.88 million. Analysts expect that Intuit will post $3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, April 8th.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.

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