Accenture Plc Rating Reiterated by Zacks (ACN)
Accenture Plc (NYSE:ACN)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $86.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 5.48% from the company’s current price.
Zacks’ analyst wrote, “Accenture delivered solid third-quarter results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Revenues also increased on a year-over-year basis reflecting an increased focus on the Outsourcing business, new bookings and continuous return of shareholders value. Moreover, the company provided a modest guidance. Another encouraging factor was the revenue increase in its Consulting business. Accenture’s solid performance across insurance, banking and healthcare segments reflects strong demand for its services, boosting long-term growth prospects. However, increasing competition from Cognizant Technology and IBM, a strained spending environment and Accenture’s broad European exposure may temper its growth prospects to some extent. Thus, we reiterate our Neutral recommendation on Accenture.”
Accenture Plc (NYSE:ACN) traded up 0.12% on Friday, hitting $81.63. 1,654,335 shares of the company’s stock traded hands. Accenture Plc has a one year low of $69.00 and a one year high of $85.88. The stock has a 50-day moving average of $81.27 and a 200-day moving average of $80.82. The company has a market cap of $51.677 billion and a price-to-earnings ratio of 20.04.
Accenture Plc (NYSE:ACN) last released its earnings data on Thursday, June 26th. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.21 by $0.05. The company had revenue of $7.74 million for the quarter, compared to the consensus estimate of $7.55 million. During the same quarter last year, the company posted $1.14 earnings per share. Accenture Plc’s revenue was up 7.5% compared to the same quarter last year. Analysts expect that Accenture Plc will post $4.53 EPS for the current fiscal year.
A number of other firms have also recently commented on ACN. Analysts at BMO Capital Markets raised their price target on shares of Accenture Plc from $82.00 to $83.00 in a research note on Friday. They now have a “market perform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Accenture Plc from $90.00 to $88.00 in a research note on Friday. They now have an “overweight” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of Accenture Plc from a “neutral” rating to an “outperform” rating in a research note on Friday, April 25th. They now have a $92.00 price target on the stock, up previously from $78.00. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Accenture Plc currently has an average rating of “Buy” and an average price target of $86.67.
Accenture plc (NYSE:ACN) is engaged in providing management consulting, technology and outsourcing services.
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