Equities research analysts predict that Accenture Plc (NYSE:ACN) will post sales of $11.38 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Accenture’s earnings, with the lowest sales estimate coming in at $11.35 billion and the highest estimate coming in at $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 business is expected to announce its next earnings report on Thursday, December 17th.
On average, 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 fiscal year, analysts anticipate that the business will post sales of $50.04 billion, with estimates ranging from $49.11 billion to $50.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Accenture.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 24th. The information technology services provider reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.03). The firm had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.93 billion. Accenture had a net margin of 11.52% and a return on equity of 30.17%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.74 earnings per share.
Several research analysts have weighed in on ACN shares. Wells Fargo & Company cut shares of Accenture from an “overweight” rating to an “equal weight” rating and increased their price target 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. Wolfe Research raised their target price on shares of Accenture from $165.00 to $220.00 and gave the stock a “peer perform” rating in a report on Friday, June 26th. Stifel Nicolaus raised their target price on shares of Accenture from $236.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Piper Sandler raised their target price on shares of Accenture from $206.00 to $229.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Accenture from $256.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $231.08.
In other news, General Counsel Joel Unruch sold 1,124 shares of Accenture stock in a transaction on Monday, July 20th. The shares were 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 in the company, valued at $5,385,932.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jean-Marc Ollagnier sold 3,773 shares of Accenture stock in a transaction on Monday, July 20th. The stock was sold at an average price of $222.44, for a total transaction of $839,266.12. Following the transaction, the insider now owns 174,816 shares in the company, valued at approximately $38,886,071.04. The disclosure for this sale can be found here. Insiders sold 14,954 shares of company stock worth $3,327,555 in the last 90 days. Company insiders own 0.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Accenture by 1.7% during the second quarter. BlackRock Inc. now owns 45,961,228 shares of the information technology services provider’s stock worth $9,868,793,000 after purchasing an additional 784,298 shares during the period. State Street Corp raised its stake in Accenture by 0.9% during the first quarter. State Street Corp now owns 26,989,659 shares of the information technology services provider’s stock worth $4,406,390,000 after buying an additional 235,852 shares during the last quarter. Capital Research Global Investors raised its stake in Accenture by 2.4% during the first quarter. Capital Research Global Investors now owns 15,026,818 shares of the information technology services provider’s stock worth $2,453,285,000 after buying an additional 355,755 shares during the last quarter. FMR LLC raised its stake in Accenture by 23.7% during the second quarter. FMR LLC now owns 9,599,021 shares of the information technology services provider’s stock worth $2,061,101,000 after buying an additional 1,840,911 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Accenture by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,608,643 shares of the information technology services provider’s stock worth $1,848,446,000 after buying an additional 289,003 shares during the last quarter. Institutional investors own 73.44% of the company’s stock.
Accenture stock traded down $2.78 during trading hours on Wednesday, hitting $222.40. The company had a trading volume of 1,936,069 shares, compared to its average volume of 2,215,614. The firm has a market cap of $141.62 billion, a PE ratio of 28.19, a PEG ratio of 2.80 and a beta of 1.06. Accenture has a one year low of $137.15 and a one year high of $247.82. The firm has a 50-day moving average of $233.76 and a 200 day moving average of $204.46.
The business also recently announced 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. The ex-dividend date is Friday, October 9th. This represents a $3.52 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Accenture’s previous quarterly dividend of $0.80. Accenture’s dividend payout ratio (DPR) is currently 42.90%.
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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