Zacks: Brokerages Expect Accenture Plc (ACN) Will Post Earnings of $1.88 Per Share

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Equities research analysts expect Accenture Plc (NYSE:ACN) to announce $1.88 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Accenture’s earnings, with estimates ranging from $1.85 to $1.95. Accenture reported earnings of $1.79 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, June 27th.

According to Zacks, analysts expect that Accenture will report full-year earnings of $7.31 per share for the current fiscal year, with EPS estimates ranging from $7.27 to $7.45. For the next financial year, analysts anticipate that the business will report earnings of $7.93 per share, with EPS estimates ranging from $7.80 to $8.12. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Accenture.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.16. The company had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share.

A number of analysts have recently issued reports on ACN shares. Bank of America lowered Accenture from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. They noted that the move was a valuation call. Credit Suisse Group set a $170.00 target price on Accenture and gave the company a “hold” rating in a report on Tuesday, April 9th. Berenberg Bank reaffirmed a “buy” rating and set a $190.00 target price on shares of Accenture in a report on Monday, April 1st. William Blair reiterated an “outperform” rating on shares of Accenture in a research report on Friday, March 29th. Finally, BMO Capital Markets boosted their price objective on Accenture to $185.00 and gave the stock a “market perform” rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $183.58.

Shares of ACN traded up $1.24 during midday trading on Wednesday, reaching $180.81. 21,420 shares of the company were exchanged, compared to its average volume of 1,932,405. The stock has a market cap of $120.78 billion, a PE ratio of 26.84, a P/E/G ratio of 2.36 and a beta of 1.12. Accenture has a 1-year low of $132.63 and a 1-year high of $183.35.

The company also recently announced a semiannual dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were paid a dividend of $1.46 per share. This represents a yield of 1.66%. The ex-dividend date was Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is currently 43.32%.

In other news, insider Ellyn Shook sold 2,343 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $175.83, for a total value of $411,969.69. Following the transaction, the insider now directly owns 33,545 shares of the company’s stock, valued at $5,898,217.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Johan Deblaere sold 3,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $175.80, for a total transaction of $527,400.00. Following the completion of the transaction, the chief operating officer now directly owns 74,937 shares in the company, valued at $13,173,924.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,919 shares of company stock worth $11,695,852. Company insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ACN. Truvestments Capital LLC bought a new stake in Accenture during the first quarter valued at about $27,000. Financial Gravity Wealth Inc. bought a new stake in shares of Accenture in the first quarter valued at about $30,000. Valley National Advisers Inc. raised its position in Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 73 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in Accenture in the first quarter worth about $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Accenture by 455.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 155 shares in the last quarter. 69.98% of the stock is currently owned by institutional investors and hedge funds.

About Accenture

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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Earnings History and Estimates for Accenture (NYSE:ACN)

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