Accenture Plc (ACN) to Post Q3 2018 Earnings of $1.78 Per Share, KeyCorp Forecasts

Accenture Plc (NYSE:ACN) – Stock analysts at KeyCorp cut their Q3 2018 earnings per share estimates for Accenture in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. KeyCorp analyst A. Ramnani now anticipates that the information technology services provider will post earnings per share of $1.78 for the quarter, down from their previous estimate of $1.81. KeyCorp currently has a “Overweight” rating and a $172.00 price target on the stock. KeyCorp also issued estimates for Accenture’s Q4 2018 earnings at $1.64 EPS, FY2018 earnings at $6.61 EPS, Q1 2019 earnings at $1.78 EPS, Q2 2019 earnings at $1.65 EPS, Q3 2019 earnings at $2.04 EPS, Q4 2019 earnings at $1.80 EPS and FY2019 earnings at $7.27 EPS.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a research note on Thursday, September 14th. Deutsche Bank raised their price objective on Accenture to $165.00 in a report on Monday, December 11th. Pivotal Research initiated coverage on Accenture in a report on Wednesday, November 8th. They set a “buy” rating and a $165.00 price objective on the stock. Cowen set a $150.00 price objective on Accenture and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $150.00 price objective on shares of Accenture in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $156.17.

Accenture (NYSE ACN) traded up $0.21 during trading hours on Monday, reaching $159.11. The company’s stock had a trading volume of 1,364,117 shares, compared to its average volume of 2,278,057. Accenture has a one year low of $112.31 and a one year high of $159.49. The firm has a market capitalization of $101,860.00, a PE ratio of 28.21, a price-to-earnings-growth ratio of 2.38 and a beta of 1.08.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the business earned $1.58 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis.

In related news, CAO Richard P. Clark sold 1,433 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total value of $226,944.21. Following the completion of the sale, the chief accounting officer now owns 8,932 shares in the company, valued at $1,414,560.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard P. Clark sold 1,754 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $158.39, for a total transaction of $277,816.06. Following the completion of the sale, the insider now owns 10,543 shares of the company’s stock, valued at approximately $1,669,905.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,116 shares of company stock valued at $12,211,924. 0.21% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Milestone Resources Group Ltd purchased a new position in Accenture in the fourth quarter valued at $114,109,000. Rockland Trust Co. acquired a new stake in shares of Accenture during the fourth quarter worth about $347,000. American National Bank boosted its stake in shares of Accenture by 10.8% during the fourth quarter. American National Bank now owns 45,564 shares of the information technology services provider’s stock worth $6,976,000 after buying an additional 4,423 shares during the period. Windward Capital Management Co. CA boosted its stake in shares of Accenture by 2.9% during the fourth quarter. Windward Capital Management Co. CA now owns 159,334 shares of the information technology services provider’s stock worth $24,393,000 after buying an additional 4,455 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in shares of Accenture by 7,097.0% during the fourth quarter. Confluence Investment Management LLC now owns 114,217 shares of the information technology services provider’s stock worth $17,485,000 after buying an additional 112,630 shares during the period. Institutional investors own 75.23% of the company’s stock.

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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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Earnings History and Estimates for Accenture (NYSE:ACN)

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