Analysts expect Accenture Plc (NYSE:ACN) to report sales of $11.38 billion for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Accenture’s earnings, with estimates ranging from $11.35 billion to $11.41 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 company is expected to report its next earnings report on Thursday, December 17th.
According to Zacks, analysts expect that Accenture will report full-year sales of $46.73 billion for the current year, with estimates ranging from $46.45 billion to $47.29 billion. For the next financial year, analysts expect that the firm will report sales of $50.04 billion, with estimates ranging from $49.11 billion to $50.81 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Accenture.
Accenture (NYSE:ACN) last released its quarterly earnings results 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). The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.93 billion. Accenture had a net margin of 11.52% and a return on equity of 30.17%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 earnings per share.
ACN has been the topic of several recent analyst reports. Susquehanna Bancshares upped their price objective on shares of Accenture from $225.00 to $250.00 in a report on Friday, June 26th. Citigroup upped their price objective on shares of Accenture from $247.00 to $269.00 and gave the company a “buy” rating in a report on Sunday, September 20th. Wedbush upped their price objective on shares of Accenture from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Bank of America cut their price objective on shares of Accenture from $216.00 to $209.00 and set an “underperform” rating on the stock in a report on Friday, September 25th. Finally, Wells Fargo & Company downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $190.00 to $200.00 in a report on Thursday, June 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Accenture has a consensus rating of “Buy” and a consensus target price of $231.08.
In other Accenture news, insider Jean-Marc Ollagnier sold 3,773 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $222.44, for a total value of $839,266.12. Following the sale, the insider now owns 174,816 shares in the company, valued at approximately $38,886,071.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 2,250 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $222.44, for a total value of $500,490.00. Following the completion of the sale, the chief financial officer now owns 22,127 shares in the company, valued at approximately $4,921,929.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,954 shares of company stock worth $3,327,555. Insiders own 0.10% of the company’s stock.
Several large investors have recently made changes to their positions in ACN. Evolution Wealth Advisors LLC lifted its position in shares of Accenture by 566.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 140 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 119 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Accenture by 47.5% during the 2nd quarter. Versant Capital Management Inc now owns 149 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 48 shares in the last quarter. Beese Fulmer Investment Management Inc. purchased a new position in shares of Accenture during the 2nd quarter valued at approximately $31,000. Demars Financial Group LLC purchased a new position in shares of Accenture during the 2nd quarter valued at approximately $32,000. Finally, Fortis Advisors LLC lifted its position in shares of Accenture by 29.5% during the 1st quarter. Fortis Advisors LLC now owns 272 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 73.44% of the company’s stock.
Shares of ACN traded down $2.78 during mid-day trading on Wednesday, hitting $222.40. 1,936,069 shares of the company traded hands, compared to its average volume of 2,215,614. Accenture has a 1-year low of $137.15 and a 1-year high of $247.82. The company has a market capitalization of $141.62 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.06. The business has a 50 day moving average of $233.76 and a 200 day moving average of $204.46.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, October 9th. This is a positive change from Accenture’s previous quarterly dividend of $0.80. Accenture’s dividend payout ratio is currently 42.90%.
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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