Accenture (NYSE:ACN) Issues FY 2022 Earnings Guidance

Accenture (NYSE:ACN) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $9.900-$10.180 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $9.870. The company issued revenue guidance of $56.60 billion-$58.11 billion, compared to the consensus revenue estimate of $55.59 billion.Accenture also updated its Q1 2022 guidance to EPS.

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Accenture from $342.00 to $385.00 and gave the stock a buy rating in a report on Thursday, September 23rd. Susquehanna Bancshares increased their price objective on Accenture from $325.00 to $340.00 and gave the company a positive rating in a report on Friday, June 25th. Royal Bank of Canada raised their price objective on Accenture from $301.00 to $322.00 and gave the stock an outperform rating in a research report on Friday, June 25th. Exane BNP Paribas upgraded Accenture from a neutral rating to an outperform rating in a report on Wednesday, June 23rd. Finally, Morgan Stanley increased their price objective on shares of Accenture from $380.00 to $400.00 and gave the stock an overweight rating in a research report on Friday, September 24th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and an average target price of $352.42.

Shares of NYSE:ACN traded up $5.91 during mid-day trading on Thursday, reaching $336.09. The company had a trading volume of 11,792 shares, compared to its average volume of 1,943,247. The company’s 50-day moving average price is $331.50 and its 200-day moving average price is $306.52. Accenture has a one year low of $212.45 and a one year high of $345.52. The firm has a market cap of $213.30 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.48 and a beta of 1.11.

Accenture (NYSE:ACN) last issued its earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.01. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The firm had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.42 billion. During the same period in the previous year, the company posted $1.70 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. On average, equities analysts expect that Accenture will post 8.79 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 14th will be given a dividend of $0.97 per share. The ex-dividend date is Wednesday, October 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.15%. This is an increase from Accenture’s previous quarterly dividend of $0.88. Accenture’s dividend payout ratio is currently 47.18%.

Accenture declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 23rd that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $314.20, for a total value of $1,413,900.00. Following the transaction, the chief financial officer now directly owns 16,131 shares in the company, valued at $5,068,360.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jean-Marc Ollagnier sold 5,233 shares of the stock in a transaction on Friday, July 16th. The stock was sold at an average price of $314.20, for a total transaction of $1,644,208.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,495 shares of company stock worth $5,215,175. 0.07% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Accenture stock. OLD Mission Capital LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 986 shares of the information technology services provider’s stock, valued at approximately $223,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

About Accenture

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Earnings History and Estimates for Accenture (NYSE:ACN)

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