Wall Street analysts forecast that Accenture Plc (NYSE:ACN) will announce earnings of $1.71 per share for the current quarter, according to Zacks. Nine analysts have made estimates for Accenture’s earnings, with the highest EPS estimate coming in at $1.76 and the lowest estimate coming in at $1.66. Accenture posted earnings of $1.52 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The firm is expected to announce its next earnings report before the market opens on Thursday, June 28th.
On average, analysts expect that Accenture will report full-year earnings of $6.68 per share for the current fiscal year, with EPS estimates ranging from $6.64 to $6.75. For the next financial year, analysts expect that the company will report earnings of $7.23 per share, with EPS estimates ranging from $7.04 to $7.43. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Accenture.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. Stifel Nicolaus raised their price target on shares of Accenture from $170.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. Susquehanna Bancshares raised shares of Accenture from a “neutral” rating to a “positive” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $180.00 price target (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Finally, UBS Group raised shares of Accenture from a “neutral” rating to a “positive” rating in a research note on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Accenture presently has an average rating of “Buy” and a consensus price target of $164.59.
In other Accenture news, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $156.10, for a total value of $312,200.00. Following the completion of the sale, the insider now directly owns 120,025 shares of the company’s stock, valued at $18,735,902.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Rowland sold 3,270 shares of Accenture stock in a transaction on Friday, April 20th. The shares were sold at an average price of $152.93, for a total transaction of $500,081.10. Following the completion of the sale, the chief financial officer now directly owns 20,243 shares of the company’s stock, valued at $3,095,761.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,333 shares of company stock valued at $1,586,869. Insiders own 0.21% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Avalon Advisors LLC increased its stake in Accenture by 36.0% in the first quarter. Avalon Advisors LLC now owns 103,141 shares of the information technology services provider’s stock valued at $15,832,000 after purchasing an additional 27,278 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in Accenture in the first quarter valued at $3,359,000. Cynosure Advisors LLC bought a new stake in Accenture in the first quarter valued at $1,486,000. Rikoon Group LLC increased its stake in Accenture by 18.7% in the first quarter. Rikoon Group LLC now owns 4,677 shares of the information technology services provider’s stock valued at $692,000 after purchasing an additional 737 shares in the last quarter. Finally, Private Vista LLC bought a new stake in Accenture in the first quarter valued at $249,000. 73.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Accenture traded down $1.52, hitting $155.34, during trading hours on Wednesday, Marketbeat Ratings reports. 3,191,224 shares of the company’s stock traded hands, compared to its average volume of 2,280,626. The company has a market capitalization of $99.21 billion, a P/E ratio of 26.28, a PEG ratio of 2.34 and a beta of 1.03. Accenture has a 12 month low of $122.03 and a 12 month high of $165.58.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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