$8.96 Billion in Sales Expected for Accenture PLC (NYSE:ACN) This Quarter
Wall Street analysts forecast that Accenture PLC (NYSE:ACN) will report sales of $8.96 billion for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Accenture PLC’s earnings. The lowest sales estimate is $8.90 billion and the highest is $9.02 billion. Accenture PLC posted sales of $8.49 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The firm is scheduled to announce its next earnings results on Thursday, October 5th.
According to Zacks, analysts expect that Accenture PLC will report full-year sales of $8.96 billion for the current fiscal year, with estimates ranging from $34.64 billion to $34.72 billion. For the next financial year, analysts expect that the company will report sales of $36.95 billion per share, with estimates ranging from $36.81 billion to $37.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Accenture PLC.
Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.52. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share.
ACN has been the subject of several recent research reports. Morgan Stanley set a $132.00 target price on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. BMO Capital Markets reissued a “hold” rating and issued a $123.00 price target on shares of Accenture PLC in a research note on Thursday, March 23rd. Deutsche Bank AG lifted their price target on shares of Accenture PLC from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Friday, March 24th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 price target (up previously from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. Finally, Cowen and Company lifted their price target on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $130.71.
In related news, insider Robert E. Sell sold 2,222 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $119.97, for a total value of $266,573.34. Following the sale, the insider now directly owns 44,423 shares in the company, valued at approximately $5,329,427.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $120.00, for a total transaction of $264,000.00. Following the completion of the sale, the insider now owns 122,626 shares in the company, valued at $14,715,120. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,457 shares of company stock worth $8,895,106. 0.21% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Accenture PLC during the fourth quarter worth about $258,021,000. Lebenthal Asset Management LLC raised its stake in shares of Accenture PLC by 31.7% in the fourth quarter. Lebenthal Asset Management LLC now owns 3,859 shares of the information technology services provider’s stock worth $452,000 after buying an additional 929 shares during the period. Capital Guardian Trust Co. acquired a new stake in shares of Accenture PLC during the fourth quarter worth about $62,594,000. Barings LLC raised its stake in shares of Accenture PLC by 269.0% in the fourth quarter. Barings LLC now owns 25,200 shares of the information technology services provider’s stock worth $2,952,000 after buying an additional 18,370 shares during the period. Finally, Cypress Wealth Advisors LLC raised its stake in shares of Accenture PLC by 1.5% in the fourth quarter. Cypress Wealth Advisors LLC now owns 5,282 shares of the information technology services provider’s stock worth $619,000 after buying an additional 77 shares during the period. Institutional investors own 77.35% of the company’s stock.
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Accenture PLC (NYSE:ACN) opened at 126.70 on Friday. The company has a market cap of $78.30 billion, a price-to-earnings ratio of 22.44 and a beta of 1.11. Accenture PLC has a 12 month low of $108.83 and a 12 month high of $128.47. The company’s 50 day moving average is $124.15 and its 200-day moving average is $120.60.
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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