Zacks: Analysts Expect Accenture PLC (NYSE:ACN) to Post $1.45 Earnings Per Share
Equities research analysts expect Accenture PLC (NYSE:ACN) to announce earnings per share of $1.45 for the current quarter, Zacks reports. Nine analysts have made estimates for Accenture PLC’s earnings, with the highest EPS estimate coming in at $1.47 and the lowest estimate coming in at $1.42. Accenture PLC reported earnings per share of $1.31 in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.7%. The business is expected to announce its next earnings results on Thursday, October 5th.
On average, analysts expect that Accenture PLC will report full year earnings of $5.88 per share for the current fiscal year, with EPS estimates ranging from $5.85 to $5.90. For the next financial year, analysts forecast that the business will report earnings of $6.41 per share, with EPS estimates ranging from $6.25 to $6.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Accenture PLC.
Accenture PLC (NYSE:ACN) last released its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter last year, the business posted $1.41 EPS. The company’s revenue was up 5.1% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “hold” rating and issued a $130.00 target price (up previously from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. Cowen and Company reissued an “outperform” rating and issued a $131.00 target price on shares of Accenture PLC in a research report on Monday, March 27th. Credit Suisse Group reissued a “hold” rating and issued a $124.00 target price on shares of Accenture PLC in a research report on Friday, March 24th. Finally, Zacks Investment Research downgraded shares of Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $130.71.
In other Accenture PLC news, insider Ellyn Shook sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $125.00, for a total transaction of $550,000.00. Following the completion of the transaction, the insider now directly owns 37,344 shares of the company’s stock, valued at approximately $4,668,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $840,622.92. Following the transaction, the insider now directly owns 61,714 shares of the company’s stock, valued at $7,588,970.58. The disclosure for this sale can be found here. Insiders have sold a total of 72,457 shares of company stock valued at $8,895,106 over the last three months. 0.21% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after buying an additional 37,700,871 shares during the last quarter. Norges Bank purchased a new position in Accenture PLC during the fourth quarter worth about $649,544,000. Vanguard Group Inc. raised its position in Accenture PLC by 6.2% in the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after buying an additional 2,749,896 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Accenture PLC during the fourth quarter worth about $258,021,000. Finally, Wellington Management Group LLP raised its position in Accenture PLC by 8.8% in the first 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 during the last quarter. 77.35% of the stock is owned by hedge funds and other institutional investors.
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Shares of Accenture PLC (NYSE:ACN) traded up 0.32% during trading on Friday, hitting $127.78. The company had a trading volume of 2,275,298 shares. The firm has a market capitalization of $78.97 billion, a P/E ratio of 22.63 and a beta of 1.11. Accenture PLC has a 52-week low of $108.83 and a 52-week high of $128.47. The stock’s 50-day moving average is $125.31 and its 200 day moving average is $121.02.
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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