Wall Street brokerages forecast that Accenture Plc (NYSE:ACN) will post $11.38 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Accenture’s earnings, with the highest sales estimate coming in at $11.41 billion and the lowest estimate coming in at $11.35 billion. Accenture reported sales of $11.36 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.2%. The business is expected to announce its next quarterly earnings results on Thursday, December 17th.
On average, analysts expect that Accenture will report full-year sales of $46.73 billion for the current financial year, with estimates ranging from $46.45 billion to $47.29 billion. For the next financial year, analysts anticipate that the business will report sales of $50.04 billion, with estimates ranging from $49.11 billion to $50.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Accenture.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 24th. The information technology services provider reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.03). Accenture had a return on equity of 30.17% and a net margin of 11.52%. The company had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.93 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis.
A number of analysts have issued reports on ACN shares. Bank of America cut their target price on Accenture from $216.00 to $209.00 and set an “underperform” rating for the company in a research note on Friday, September 25th. Citigroup lifted their target price on Accenture from $247.00 to $269.00 and gave the company a “buy” rating in a research report on Sunday, September 20th. BMO Capital Markets dropped their target price on Accenture from $255.00 to $250.00 and set a “market perform” rating for the company in a research report on Friday, September 25th. JPMorgan Chase & Co. decreased their price objective on Accenture from $256.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, September 25th. Finally, Morgan Stanley boosted their target price on Accenture from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $231.08.
ACN stock traded down $2.78 during midday trading on Wednesday, reaching $222.40. The stock had a trading volume of 1,936,069 shares, compared to its average volume of 2,215,614. The company’s fifty day simple moving average is $233.76 and its 200 day simple moving average is $204.46. The company has a market cap of $141.62 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.06. Accenture has a 52-week low of $137.15 and a 52-week high of $247.82.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, October 9th. This is an increase from Accenture’s previous quarterly dividend of $0.80. Accenture’s dividend payout ratio (DPR) is currently 42.90%.
In other Accenture news, General Counsel Joel Unruch sold 1,124 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $222.55, for a total transaction of $250,146.20. Following the transaction, the general counsel now owns 24,201 shares of the company’s stock, valued at approximately $5,385,932.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Venkata S. M. Renduchintala sold 1,283 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $223.01, for a total value of $286,121.83. Following the transaction, the director now directly owns 3,358 shares in the company, valued at approximately $748,867.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,954 shares of company stock worth $3,327,555. 0.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evolution Wealth Advisors LLC lifted its holdings in shares of Accenture by 566.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 140 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 119 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Accenture by 47.5% in the 2nd quarter. Versant Capital Management Inc now owns 149 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 48 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new stake in shares of Accenture in the 2nd quarter worth approximately $31,000. Demars Financial Group LLC bought a new stake in shares of Accenture in the 2nd quarter worth approximately $32,000. Finally, Fortis Advisors LLC lifted its holdings in shares of Accenture by 29.5% in the 1st quarter. Fortis Advisors LLC now owns 272 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 62 shares during the last quarter. 73.44% of the stock is currently owned by institutional investors and hedge funds.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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