Accenture plc (NYSE:ACN) Expected to Announce Quarterly Sales of $12.79 Billion


Share on StockTwits

Wall Street analysts expect that Accenture plc (NYSE:ACN) will announce sales of $12.79 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Accenture’s earnings, with the lowest sales estimate coming in at $12.65 billion and the highest estimate coming in at $12.94 billion. Accenture reported sales of $10.99 billion in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The company is expected to announce its next quarterly earnings results on Thursday, June 24th.

According to Zacks, analysts expect that Accenture will report full-year sales of $49.13 billion for the current financial year, with estimates ranging from $48.59 billion to $49.43 billion. For the next year, analysts anticipate that the business will report sales of $52.89 billion, with estimates ranging from $52.33 billion to $53.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Accenture.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.13. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The firm had revenue of $12.09 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period last year, the firm posted $1.91 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis.

A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Accenture from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Susquehanna increased their price objective on shares of Accenture from $290.00 to $325.00 and gave the company a “positive” rating in a research report on Thursday, March 25th. BMO Capital Markets increased their price objective on shares of Accenture from $292.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, March 25th. Morgan Stanley increased their price objective on shares of Accenture from $297.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, March 23rd. Finally, Robert W. Baird restated a “hold” rating on shares of Accenture in a research note on Sunday, April 11th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Accenture presently has a consensus rating of “Buy” and an average target price of $276.05.

In other Accenture news, insider Ellyn Shook sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $290.21, for a total transaction of $754,546.00. Following the sale, the insider now directly owns 20,589 shares of the company’s stock, valued at approximately $5,975,133.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James O. Etheredge sold 2,428 shares of the business’s stock in a transaction that occurred on Wednesday, February 3rd. The stock was sold at an average price of $248.54, for a total transaction of $603,455.12. Over the last quarter, insiders have sold 47,598 shares of company stock valued at $12,957,921. 0.07% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LGL Partners LLC bought a new stake in shares of Accenture in the 1st quarter valued at $222,000. Atlantic Union Bankshares Corp boosted its stake in shares of Accenture by 1.3% in the 1st quarter. Atlantic Union Bankshares Corp now owns 31,824 shares of the information technology services provider’s stock valued at $8,792,000 after purchasing an additional 409 shares during the last quarter. Toews Corp ADV bought a new stake in shares of Accenture in the 1st quarter valued at $939,000. Long Road Investment Counsel LLC boosted its stake in shares of Accenture by 1.1% in the 1st quarter. Long Road Investment Counsel LLC now owns 19,100 shares of the information technology services provider’s stock valued at $5,276,000 after purchasing an additional 200 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Accenture by 40.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,458,510 shares of the information technology services provider’s stock valued at $402,913,000 after purchasing an additional 423,040 shares during the last quarter. 70.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ACN traded down $0.57 during trading on Tuesday, reaching $291.60. The company had a trading volume of 1,624,548 shares, compared to its average volume of 2,044,342. The stock has a market cap of $185.51 billion, a PE ratio of 35.91, a PEG ratio of 3.09 and a beta of 1.08. The business’s 50 day moving average price is $281.23 and its 200-day moving average price is $257.03. Accenture has a 52 week low of $174.94 and a 52 week high of $293.42.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, April 14th. Accenture’s dividend payout ratio is 47.18%.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.

Featured Article: Trading Options- What is a Strangle?

Get a free copy of the Zacks research report on Accenture (ACN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.