Accenture Plc (ACN) Expected to Announce Earnings of $1.71 Per Share

Wall Street analysts expect Accenture Plc (NYSE:ACN) to post $1.71 earnings per share for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Accenture’s earnings, with the lowest EPS estimate coming in at $1.66 and the highest estimate coming in at $1.76. Accenture reported earnings of $1.52 per share during the same quarter last year, which would indicate a positive year over year growth rate of 12.5%. The business is expected to issue its next earnings report on Thursday, June 28th.

According to Zacks, analysts expect that Accenture will report full year earnings of $6.68 per share for the current financial year, with EPS estimates ranging from $6.55 to $6.75. For the next fiscal year, analysts expect that the firm will report earnings of $7.27 per share, with EPS estimates ranging from $7.04 to $7.43. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Accenture.

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Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same period in the previous year, the company posted $1.33 earnings per share. Accenture’s revenue for the quarter was up 15.2% on a year-over-year basis.

A number of brokerages have issued reports on ACN. Pivotal Research set a $180.00 price target on Accenture and gave the company a “buy” rating in a report on Tuesday, February 20th. Robert W. Baird boosted their price target on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, March 20th. KeyCorp upped their target price on Accenture from $172.00 to $181.00 and gave the stock a “positive” rating in a research note on Monday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $180.00 target price (up from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Finally, Cowen reaffirmed a “buy” rating and set a $175.00 target price on shares of Accenture in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Accenture presently has an average rating of “Buy” and a consensus target price of $161.80.

NYSE:ACN traded up $2.78 during trading hours on Thursday, reaching $154.20. The company had a trading volume of 1,330,068 shares, compared to its average volume of 2,432,643. Accenture has a 1-year low of $115.39 and a 1-year high of $165.58. The company has a market capitalization of $95,374.29, a PE ratio of 26.12, a PEG ratio of 2.25 and a beta of 1.04.

In other Accenture news, CFO David Rowland sold 3,102 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $161.21, for a total value of $500,073.42. Following the completion of the sale, the chief financial officer now directly owns 25,012 shares in the company, valued at approximately $4,032,184.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $160.30, for a total value of $320,600.00. Following the completion of the sale, the insider now owns 123,863 shares of the company’s stock, valued at $19,855,238.90. The disclosure for this sale can be found here. Insiders have sold 107,450 shares of company stock valued at $16,465,847 over the last quarter. 0.21% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Accenture by 261.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,792,124 shares of the information technology services provider’s stock worth $580,537,000 after purchasing an additional 2,743,482 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Accenture by 54.1% during the 4th quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock worth $1,068,260,000 after purchasing an additional 2,450,772 shares during the period. Milestone Resources Group Ltd purchased a new position in shares of Accenture during the 4th quarter worth $114,109,000. APG Asset Management N.V. grew its holdings in shares of Accenture by 60.8% during the 4th quarter. APG Asset Management N.V. now owns 1,941,307 shares of the information technology services provider’s stock worth $247,497,000 after purchasing an additional 734,358 shares during the period. Finally, Swedbank purchased a new position in shares of Accenture during the 4th quarter worth $90,670,000. Institutional investors own 75.62% of the company’s stock.

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Accenture 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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Earnings History and Estimates for Accenture (NYSE:ACN)

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