Accenture (NYSE:ACN) Issues Earnings Results, Misses Estimates By $0.03 EPS

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Accenture (NYSE:ACN) posted its earnings results on Thursday. The information technology services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.03), MarketWatch Earnings reports. The company had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.93 billion. Accenture had a return on equity of 31.51% and a net margin of 11.11%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 EPS. Accenture updated its FY 2021
Pre-Market guidance to 7.80-8.10 EPS and its Q1 2021
Pre-Market guidance to EPS.

Shares of Accenture stock opened at $214.63 on Friday. Accenture has a 52 week low of $137.15 and a 52 week high of $247.82. The stock has a 50 day moving average price of $235.19 and a two-hundred day moving average price of $202.71. The stock has a market capitalization of $136.67 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.89 and a beta of 1.03.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, October 9th. This is a boost from Accenture’s previous quarterly dividend of $0.80. Accenture’s dividend payout ratio (DPR) is 43.48%.

In related news, CEO Julie Spellman Sweet sold 3,053 shares of Accenture stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $222.54, for a total transaction of $679,414.62. Following the transaction, the chief executive officer now owns 12,916 shares of the company’s stock, valued at $2,874,326.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Joel Unruch sold 1,124 shares of Accenture stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $222.55, for a total value of $250,146.20. Following the transaction, the general counsel now directly owns 24,201 shares in the company, valued at approximately $5,385,932.55. The disclosure for this sale can be found here. Insiders sold 16,847 shares of company stock valued at $3,710,958 in the last three months. Insiders own 0.10% of the company’s stock.

A number of analysts have weighed in on the stock. Wells Fargo & Company cut shares of Accenture from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $190.00 to $200.00 in a research note on Thursday, June 18th. They noted that the move was a valuation call. BMO Capital Markets decreased their target price on shares of Accenture from $255.00 to $250.00 and set a “market perform” rating on the stock in a research note on Friday. Exane BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 3rd. Wolfe Research boosted their target price on shares of Accenture from $165.00 to $220.00 and gave the stock a “peer perform” rating in a research note on Friday, June 26th. Finally, Citigroup boosted their target price on shares of Accenture from $247.00 to $269.00 and gave the stock a “buy” rating in a research note on Sunday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $231.04.

Accenture Company Profile

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 for Accenture (NYSE:ACN)

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