Equities analysts expect Accenture Plc (NYSE:ACN) to post $10.02 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Accenture’s earnings, with the highest sales estimate coming in at $10.11 billion and the lowest estimate coming in at $10.00 billion. Accenture reported sales of $8.87 billion during the same quarter last year, which indicates a positive year over year growth rate of 13%. The company is expected to issue its next earnings results on Thursday, June 28th.
According to Zacks, analysts expect that Accenture will report full year sales of $39.19 billion for the current financial year, with estimates ranging from $39.04 billion to $39.44 billion. For the next financial year, analysts anticipate that the firm will post sales of $42.02 billion per share, with estimates ranging from $41.55 billion to $42.69 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Accenture.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.31 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis.
Several equities research analysts have recently weighed in on the company. KeyCorp increased their price target on Accenture from $172.00 to $181.00 and gave the stock a “positive” rating in a report on Monday, March 19th. Pivotal Research reiterated a “buy” rating and issued a $180.00 price target on shares of Accenture in a report on Wednesday, April 11th. Sanford C. Bernstein assumed coverage on Accenture in a report on Wednesday, March 28th. They issued an “outperform” rating and a $180.00 price target on the stock. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $172.00 price target on the stock in a report on Wednesday, December 27th. Finally, Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $159.00 to $140.00 in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $161.80.
In other news, COO Johan Deblaere sold 5,000 shares of Accenture stock in a transaction on Monday, March 26th. The stock was sold at an average price of $150.72, for a total value of $753,600.00. Following the transaction, the chief operating officer now directly owns 73,638 shares in the company, valued at approximately $11,098,719.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard P. Clark sold 1,853 shares of Accenture stock in a transaction on Monday, February 5th. The shares were sold at an average price of $157.87, for a total value of $292,533.11. The disclosure for this sale can be found here. Insiders have sold a total of 105,450 shares of company stock worth $16,145,247 over the last 90 days. 0.21% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Farmers National Bank purchased a new position in shares of Accenture in the 4th quarter valued at $107,000. Virtue Capital Management LLC purchased a new position in shares of Accenture in the 4th quarter valued at $128,000. Aevitas Wealth Management Inc. purchased a new position in shares of Accenture in the 4th quarter valued at $131,000. Wagner Wealth Management LLC purchased a new position in shares of Accenture in the 4th quarter valued at $179,000. Finally, Santori & Peters Inc. purchased a new position in shares of Accenture in the 4th quarter valued at $181,000. Institutional investors and hedge funds own 75.62% of the company’s stock.
Shares of NYSE ACN traded down $0.93 during midday trading on Friday, hitting $154.59. The company’s stock had a trading volume of 1,512,894 shares, compared to its average volume of 2,414,500. Accenture has a 12-month low of $117.38 and a 12-month high of $165.58. The company has a market cap of $97,985.28, a price-to-earnings ratio of 26.16, a PEG ratio of 2.31 and a beta of 1.04.
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Accenture Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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