Equities analysts expect that Accenture Plc (NYSE:ACN) will report sales of $10.23 billion for the current quarter, according to Zacks. Eight analysts have provided estimates for Accenture’s earnings. The highest sales estimate is $10.30 billion and the lowest is $9.95 billion. Accenture reported sales of $9.59 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The business is scheduled to report its next quarterly earnings results on Thursday, March 28th.
According to Zacks, analysts expect that Accenture will report full year sales of $42.72 billion for the current fiscal year, with estimates ranging from $41.28 billion to $43.38 billion. For the next financial year, analysts anticipate that the business will report sales of $45.56 billion, with estimates ranging from $43.95 billion to $47.15 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Accenture.
Get Accenture alerts:Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 20th. The information technology services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Accenture had a return on equity of 40.31% and a net margin of 9.99%. The firm had revenue of $10.61 billion during the quarter, compared to analyst estimates of $10.54 billion. During the same period in the prior year, the company posted $1.79 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year.
ACN has been the subject of several recent analyst reports. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price objective for the company in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Citigroup upgraded Accenture from a “neutral” rating to a “buy” rating and raised their target price for the company from $161.00 to $169.00 in a research note on Wednesday, January 16th. Morgan Stanley set a $178.00 target price on Accenture and gave the company a “buy” rating in a research note on Friday, December 21st. Robert W. Baird lowered their target price on Accenture from $176.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, December 21st. Finally, SunTrust Banks lowered their target price on Accenture from $178.00 to $157.00 and set a “hold” rating for the company in a research note on Monday, December 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $173.84.
In related news, insider Ellyn Shook sold 1,172 shares of Accenture stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $155.00, for a total value of $181,660.00. Following the completion of the sale, the insider now directly owns 36,337 shares in the company, valued at $5,632,235. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $155.88, for a total value of $311,760.00. Following the completion of the sale, the insider now owns 131,024 shares of the company’s stock, valued at $20,424,021.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,033 shares of company stock valued at $8,466,177. Corporate insiders own 0.18% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Focused Wealth Management Inc increased its position in Accenture by 100.0% in the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. Quantamental Technologies LLC bought a new position in Accenture during the fourth quarter worth about $42,000. Hanson McClain Inc. boosted its holdings in Accenture by 28.4% during the fourth quarter. Hanson McClain Inc. now owns 339 shares of the information technology services provider’s stock worth $48,000 after buying an additional 75 shares during the last quarter. WealthTrust Arizona LLC boosted its holdings in Accenture by 25.1% during the fourth quarter. WealthTrust Arizona LLC now owns 359 shares of the information technology services provider’s stock worth $51,000 after buying an additional 72 shares during the last quarter. Finally, We Are One Seven LLC bought a new position in Accenture during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.
Accenture stock traded up $0.23 during mid-day trading on Friday, hitting $159.71. 1,918,737 shares of the company were exchanged, compared to its average volume of 1,991,416. Accenture has a 1-year low of $132.63 and a 1-year high of $175.64. The firm has a market capitalization of $105.77 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.14 and a beta of 1.10.
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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