Q2 2018 EPS Estimates for Accenture PLC Lifted by KeyCorp (ACN)
Accenture PLC (NYSE:ACN) – Research analysts at KeyCorp boosted their Q2 2018 earnings per share estimates for shares of Accenture PLC in a report released on Thursday. KeyCorp analyst A. Ramnani now expects that the information technology services provider will earn $1.45 per share for the quarter, up from their previous forecast of $1.42. KeyCorp currently 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.
A number of other research firms also recently commented on ACN. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective (up previously from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Monday, August 28th. 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 report on Friday, June 16th. Berenberg Bank reissued a “buy” rating and issued a $160.00 target price on shares of Accenture PLC in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. set a $130.00 price target on Accenture PLC and gave the company a “hold” rating in a research report on Sunday. One 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. The company has an average rating of “Buy” and an average price target of $141.84.
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Accenture PLC (NYSE:ACN) traded up 0.72% during mid-day trading on Monday, hitting $135.22. The stock had a trading volume of 940,010 shares. The stock has a 50-day moving average price of $132.95 and a 200 day moving average price of $125.87. Accenture PLC has a 12-month low of $112.31 and a 12-month high of $138.70. The firm has a market cap of $83.50 billion, a P/E ratio of 24.85 and a beta of 1.08.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. Accenture PLC’s revenue for the quarter was up 7.8% on a year-over-year basis.
The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th will be given a $1.33 dividend. This represents a dividend yield of 1.97%. The ex-dividend date is Wednesday, October 18th. Accenture PLC’s payout ratio is 44.49%.
In other Accenture PLC news, insider Julie Spellman Sweet sold 1,974 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $128.68, for a total value of $254,014.32. Following the completion of the transaction, the insider now owns 14,082 shares in the company, valued at approximately $1,812,071.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 4,400 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 37,344 shares of the company’s stock, valued at approximately $4,668,000. The disclosure for this sale can be found here. Insiders sold 70,073 shares of company stock valued at $9,317,545 in the last ninety days. Company insiders own 0.21% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ACN. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Accenture PLC during the second quarter valued at about $533,000. TCI Wealth Advisors Inc. increased its position in shares of Accenture PLC by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 162 shares during the last quarter. Bellwether Investment Group LLC increased its position in shares of Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after acquiring an additional 359 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 60 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Accenture PLC by 2.0% during the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after acquiring an additional 19 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
Accenture PLC 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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