Company Update: Intuit Inc (NASDAQ:INTU) – Intuit’s Cloud Transition Is Becoming Less Taxing

[at TheStreet] – Software maker Intuit reports third-quarter fiscal 2016 earnings on Tuesday after the close. Expect another strong quarter — and a rally. Read more on this. Intuit Inc. (INTU) , with a current value of $26.49B, opened at $101.89. Shares have traded today between $101.62 and $103.23 per share and has traded between $79.63 and $109.21 over the past year. Intuit (INTU) shares are currently priced at 28.98x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.92x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.20 per share annually in dividends, yielding 1.16%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $3.20 per share, which would be $0.35 better than the year-ago quarter and a $0.05 sequential increase. What we find to be interesting is that the full-year EPS estimate of $3.50 is a $0.91 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.25 Billion. If reported, that would be a 2.74% increase over the year-ago quarter. In terms of ratings, Credit Suisse Initiated INTU at Neutral (Apr 21, 2016). Previously, Brean Capital Initiated INTU at to Buy. The average price target for INTU shares by the analysts covering it is $105.38, which is 3.43% above where the stock opened. See more in (NASDAQ:INTU) Similar Articles: Company Update: Intuit Inc (NASDAQ:INTU) – For Tax Day, A Simpler And Better Way Company Update: Intuit Inc (NASDAQ:INTU) – Why Intuit Rose 3.58% Last Week (INTU) Stock Update: Intuit Inc (NASDAQ:INTU) – Intuit finds a buyer for its Quicken business