Q1 2018 EPS Estimates for Accenture PLC (ACN) Boosted by Wedbush
Accenture PLC (NYSE:ACN) – Research analysts at Wedbush increased their Q1 2018 earnings per share (EPS) estimates for shares of Accenture PLC in a research report issued to clients and investors on Thursday. Wedbush analyst M. Katri now forecasts that the information technology services provider will post earnings of $1.66 per share for the quarter, up from their prior estimate of $1.64. Wedbush also issued estimates for Accenture PLC’s Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $6.51 EPS, Q1 2019 earnings at $1.69 EPS, Q2 2019 earnings at $1.54 EPS, Q3 2019 earnings at $1.85 EPS and FY2019 earnings at $7.05 EPS.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The firm had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the company posted $1.31 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/10/04/q1-2018-eps-estimates-for-accenture-plc-acn-boosted-by-wedbush.html.
Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price target on shares of Accenture PLC in a report on Sunday. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 6th. Barclays PLC lifted their target price on shares of Accenture PLC from $124.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th. Morgan Stanley boosted their target price on shares of Accenture PLC from $132.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, September 22nd. Finally, BMO Capital Markets restated a “hold” rating and set a $130.00 price target (up previously from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $141.84.
Accenture PLC (ACN) traded up 0.4637% during midday trading on Monday, reaching $134.8725. The company had a trading volume of 686,677 shares. The company has a market capitalization of $83.29 billion, a P/E ratio of 24.7836 and a beta of 1.08. Accenture PLC has a 1-year low of $112.31 and a 1-year high of $138.70. The firm has a 50-day moving average of $132.95 and a 200 day moving average of $125.87.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be issued a dividend of $1.33 per share. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture PLC’s payout ratio is currently 44.49%.
In related news, insider Ellyn Shook sold 4,400 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $125.00, for a total value 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Pierre Nanterme sold 38,589 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.03, for a total value of $5,210,672.67. Following the completion of the transaction, the chief executive officer now owns 179,083 shares in the company, valued at approximately $24,181,577.49. The disclosure for this sale can be found here. Insiders have sold 70,073 shares of company stock valued at $9,317,545 in the last three months. Insiders own 0.21% of the company’s stock.
Large investors have recently bought and sold shares of the company. Waldron LP boosted its holdings in shares of Accenture PLC by 93.3% during the 1st quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock worth $684,000 after purchasing an additional 2,756 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in shares of Accenture PLC by 25.6% in the first quarter. Pinnacle Financial Partners Inc. now owns 4,071 shares of the information technology services provider’s stock valued at $488,000 after purchasing an additional 830 shares during the last quarter. NTV Asset Management LLC purchased a new position in Accenture PLC during the first quarter worth approximately $1,585,000. US Bancorp DE lifted its position in Accenture PLC by 4.4% during the first quarter. US Bancorp DE now owns 1,323,214 shares of the information technology services provider’s stock worth $158,628,000 after buying an additional 55,982 shares in the last quarter. Finally, AT Bancorp lifted its position in Accenture PLC by 23.8% during the first quarter. AT Bancorp now owns 12,244 shares of the information technology services provider’s stock worth $1,468,000 after buying an additional 2,355 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
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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