Accenture (ACN) Posts Earnings Results, Beats Expectations By $0.12 EPS
Accenture (NYSE:ACN) released its quarterly earnings results on Thursday. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.12, RTT News reports. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.25 billion. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Accenture updated its FY18 guidance to $6.48-6.66 EPS.
Shares of Accenture (NYSE ACN) opened at $151.75 on Thursday. Accenture has a 52-week low of $112.31 and a 52-week high of $153.75. The company has a market cap of $100,458.81, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 2.25 and a beta of 1.08.
In other news, insider Gianfranco Casati sold 20,380 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $142.72, for a total value of $2,908,633.60. Following the completion of the transaction, the insider now owns 51,014 shares in the company, valued at approximately $7,280,718.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel T. London sold 637 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $136.03, for a total transaction of $86,651.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,325 shares of company stock worth $11,479,125. Insiders own 0.21% of the company’s stock.
ACN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Monday, August 28th. Stifel Nicolaus boosted their price target on shares of Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. KeyCorp reissued a “buy” rating and issued a $149.00 price target on shares of Accenture in a research note on Sunday, October 29th. Pivotal Research assumed coverage on shares of Accenture in a research note on Wednesday, November 8th. They issued a “buy” rating and a $165.00 price target on the stock. Finally, Cowen set a $150.00 target price on shares of Accenture and gave the stock a “buy” rating in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $146.42.
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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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