Wall Street analysts expect Accenture Plc (NYSE:ACN) to announce $9.24 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Accenture’s earnings, with estimates ranging from $9.10 billion to $9.32 billion. Accenture reported sales of $8.52 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.5%. The firm is expected to issue its next quarterly earnings report before the market opens on Thursday, December 21st.
On average, analysts expect that Accenture will report full year sales of $9.24 billion for the current fiscal year, with estimates ranging from $37.28 billion to $38.40 billion. For the next fiscal year, analysts forecast that the firm will post sales of $40.41 billion per share, with estimates ranging from $39.68 billion to $41.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Accenture.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. Accenture had a return on equity of 42.65% and a net margin of 9.37%. The business had revenue of $9.15 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same quarter in the prior year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis.
Several brokerages recently weighed in on ACN. Cowen restated a “buy” rating and set a $165.00 target price on shares of Accenture in a research note on Thursday, December 14th. Deutsche Bank raised their price objective on Accenture to $165.00 in a research report on Monday, December 11th. Robert W. Baird reiterated a “hold” rating and issued a $155.00 price objective on shares of Accenture in a research report on Thursday, December 7th. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Tuesday, November 28th. Finally, Evercore ISI raised their price objective on Accenture from $148.00 to $162.00 and gave the stock a “reduce” rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Accenture currently has a consensus rating of “Buy” and an average price target of $146.42.
In other news, insider Richard P. Clark sold 3,155 shares of Accenture stock in a transaction on Friday, October 27th. The stock was sold at an average price of $143.01, for a total value of $451,196.55. Following the completion of the sale, the insider now directly owns 5,533 shares of the company’s stock, valued at approximately $791,274.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Lumb sold 2,200 shares of Accenture stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.06, for a total value of $297,132.00. Following the completion of the sale, the insider now directly owns 118,085 shares of the company’s stock, valued at $15,948,560.10. The disclosure for this sale can be found here. Insiders have sold a total of 83,325 shares of company stock valued at $11,479,125 over the last ninety days. Insiders own 0.21% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Accenture by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock worth $5,994,531,000 after purchasing an additional 1,088,676 shares during the last quarter. BlackRock Inc. boosted its position in shares of Accenture by 3.0% in the 2nd quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock worth $5,028,772,000 after purchasing an additional 1,196,578 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Accenture by 2.2% in the 2nd quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock worth $3,525,083,000 after purchasing an additional 605,156 shares during the last quarter. Northern Trust Corp boosted its position in shares of Accenture by 0.8% in the 2nd quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock worth $1,172,063,000 after purchasing an additional 70,740 shares during the last quarter. Finally, Independent Franchise Partners LLP boosted its position in shares of Accenture by 3.7% in the 3rd quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock worth $850,044,000 after purchasing an additional 222,828 shares during the last quarter. 72.39% of the stock is owned by institutional investors.
Shares of Accenture (NYSE:ACN) traded up $0.50 during trading hours on Friday, reaching $152.22. The company had a trading volume of 2,060,364 shares, compared to its average volume of 2,114,959. Accenture has a 1 year low of $112.31 and a 1 year high of $153.75. The company has a market cap of $100,749.20, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 2.26 and a beta of 1.08.
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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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