KeyCorp Equities Analysts Boost Earnings Estimates for Accenture PLC (ACN)
Accenture PLC (NYSE:ACN) – Equities research analysts at KeyCorp raised their Q2 2018 earnings per share estimates for Accenture PLC in a report released on Thursday. KeyCorp analyst A. Ramnani now anticipates that the information technology services provider will earn $1.45 per share for the quarter, up from their prior estimate of $1.42. KeyCorp has a “Buy” rating and a $149.00 price target on the stock. KeyCorp also issued estimates for Accenture PLC’s Q3 2018 earnings at $1.81 EPS, Q4 2018 earnings at $1.73 EPS, FY2018 earnings at $6.62 EPS, Q1 2019 earnings at $1.74 EPS, Q2 2019 earnings at $1.55 EPS and FY2019 earnings at $7.15 EPS.
Several other research firms have also weighed in on ACN. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Monday, August 28th. Cowen and Company lifted their price objective on shares of Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Stifel Nicolaus boosted their target price on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. BMO Capital Markets reiterated a “hold” rating and issued a $130.00 target price (up from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 target price on shares of Accenture PLC and gave the company a “hold” rating in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Accenture PLC presently has a consensus rating of “Buy” and an average target price of $140.38.
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Shares of Accenture PLC (ACN) traded down 0.801% during midday trading on Monday, hitting $134.355. The stock had a trading volume of 1,481,253 shares. Accenture PLC has a 52 week low of $112.31 and a 52 week high of $138.70. The stock’s 50-day moving average price is $132.82 and its 200 day moving average price is $125.81. The company has a market cap of $82.97 billion, a price-to-earnings ratio of 24.689 and a beta of 1.08.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.01. The firm had revenue of $9.15 billion during the quarter, compared to the consensus estimate of $9.01 billion. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, October 19th will be given a dividend of $1.33 per share. This represents a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, October 18th. Accenture PLC’s payout ratio is 44.49%.
In other Accenture PLC news, insider Gianfranco Casati sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the sale, the insider now owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 4,400 shares of Accenture PLC stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $125.00, for a total value of $550,000.00. Following the sale, the insider now owns 37,344 shares of the company’s stock, valued at approximately $4,668,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,582 shares of company stock valued at $2,634,573. 0.21% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of ACN. Vanguard Group Inc. raised its stake in Accenture PLC by 2.3% in the second quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after purchasing an additional 1,088,676 shares in the last quarter. BlackRock Inc. lifted its position in Accenture PLC by 3.0% during the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after purchasing an additional 1,196,578 shares during the last quarter. Capital Research Global Investors grew its stake in Accenture PLC by 2.2% in the 2nd quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock worth $3,525,083,000 after buying an additional 605,156 shares in the last quarter. State Street Corp grew its stake in Accenture PLC by 2.7% in the 1st quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock worth $3,039,762,000 after buying an additional 665,860 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Accenture PLC by 8.8% in the 1st quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after buying an additional 1,738,262 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.
About Accenture PLC
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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