Q3 2017 Earnings Estimate for Accenture Plc (ACN) Issued By SunTrust Banks
Accenture Plc (NYSE:ACN) – Research analysts at SunTrust Banks increased their Q3 2017 EPS estimates for shares of Accenture Plc in a report issued on Wednesday. SunTrust Banks analyst F. Atkins now expects that the information technology services provider will post earnings per share of $1.47 for the quarter, up from their prior estimate of $1.45. SunTrust Banks currently has a “Hold” rating and a $130.00 target price on the stock.
Other research analysts have also issued research reports about the company. Goldman Sachs Group Inc lowered Accenture Plc from a “neutral” rating to a “sell” rating and set a $110.00 target price for the company. in a report on Monday, April 3rd. Credit Suisse Group AG reaffirmed a “hold” rating and set a $124.00 target price on shares of Accenture Plc in a report on Friday, March 24th. BMO Capital Markets lifted their target price on Accenture Plc to $125.00 in a report on Friday, March 24th. Cowen and Company reaffirmed an “outperform” rating and set a $131.00 target price on shares of Accenture Plc in a report on Monday, March 27th. Finally, Wedbush reaffirmed a “top pick” rating and set a $135.00 target price on shares of Accenture Plc in a report on Monday, March 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $128.16.
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Shares of Accenture Plc (NYSE:ACN) opened at 123.10 on Friday. Accenture Plc has a 52-week low of $108.66 and a 52-week high of $126.53. The company has a market cap of $76.33 billion, a PE ratio of 20.51 and a beta of 1.17. The company’s 50-day moving average is $119.76 and its 200 day moving average is $119.56.
Accenture Plc (NYSE:ACN) last released its quarterly earnings results on Thursday, March 23rd. The information technology services provider reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Accenture Plc had a net margin of 12.34% and a return on equity of 46.99%. The business had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the prior year, the company posted $1.34 earnings per share. Accenture Plc’s revenue was up 4.7% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in ACN. HM Payson & Co. increased its stake in Accenture Plc by 26.0% in the first quarter. HM Payson & Co. now owns 201,153 shares of the information technology services provider’s stock worth $24,114,000 after buying an additional 41,465 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Accenture Plc by 35.9% in the first quarter. Proficio Capital Partners LLC now owns 1,678 shares of the information technology services provider’s stock valued at $205,000 after buying an additional 443 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of Accenture Plc during the first quarter valued at approximately $16,879,000. Bank of Nova Scotia raised its position in shares of Accenture Plc by 97.5% in the first quarter. Bank of Nova Scotia now owns 402,639 shares of the information technology services provider’s stock valued at $48,268,000 after buying an additional 198,755 shares during the period. Finally, Financial Advisors Network Inc. raised its position in shares of Accenture Plc by 5.4% in the first quarter. Financial Advisors Network Inc. now owns 2,611 shares of the information technology services provider’s stock valued at $317,000 after buying an additional 134 shares during the period. Institutional investors own 77.38% of the company’s stock.
In other Accenture Plc news, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $120.00, for a total value of $264,000.00. Following the completion of the sale, the insider now owns 123,545 shares in the company, valued at approximately $14,825,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Chad T. Jerdee sold 7,300 shares of the stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $119.27, for a total transaction of $870,671.00. Following the completion of the sale, the general counsel now owns 22,912 shares of the company’s stock, valued at approximately $2,732,714.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,626 shares of company stock valued at $9,919,492. 0.21% of the stock is owned by insiders.
The company also recently declared a semiannual dividend, which was paid on Monday, May 15th. Investors of record on Thursday, April 13th were given a $1.21 dividend. This represents a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, April 11th. This is an increase from Accenture Plc’s previous semiannual dividend of $1.02. Accenture Plc’s dividend payout ratio is 35.85%.
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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