Accenture PLC (ACN) to Post FY2018 Earnings of $6.55 Per Share, Cantor Fitzgerald Forecasts
Accenture PLC (NYSE:ACN) – Equities researchers at Cantor Fitzgerald issued their FY2018 earnings estimates for Accenture PLC in a report issued on Monday. Cantor Fitzgerald analyst J. Foresi forecasts that the information technology services provider will earn $6.55 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $151.00 target price on the stock.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.01. The firm had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. TRADEMARK VIOLATION WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/04/accenture-plc-acn-to-post-fy2018-earnings-of-6-55-per-share-cantor-fitzgerald-forecasts.html.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Monday, August 28th. Cowen and Company boosted their price objective on Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Stifel Nicolaus upped their target price on Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, September 7th. BMO Capital Markets restated a “hold” rating and issued a $130.00 target price (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 target price on Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $141.84.
Accenture PLC (ACN) traded up 0.74% during trading on Wednesday, hitting $135.24. The stock had a trading volume of 1,171,236 shares. Accenture PLC has a 12 month low of $112.31 and a 12 month high of $138.70. The company has a market cap of $83.51 billion, a PE ratio of 24.85 and a beta of 1.08. The company’s 50 day moving average is $132.95 and its 200-day moving average is $125.87.
The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be paid a dividend of $1.33 per share. The ex-dividend date is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s dividend payout ratio (DPR) is presently 44.49%.
In other news, insider Daniel T. London sold 4,808 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $128.05, for a total value of $615,664.40. Following the completion of the transaction, the insider now owns 22,681 shares of the company’s stock, valued at $2,904,302.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Rowland sold 3,702 shares of Accenture PLC stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $135.04, for a total transaction of $499,918.08. Following the completion of the transaction, the chief financial officer now owns 9,864 shares of the company’s stock, valued at approximately $1,332,034.56. The disclosure for this sale can be found here. Insiders have sold 70,073 shares of company stock worth $9,317,545 over the last quarter. Insiders own 0.21% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ACN. TCI Wealth Advisors Inc. boosted its position in Accenture PLC by 23.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 162 shares during the period. Bellwether Investment Group LLC increased its position in shares of Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after acquiring an additional 359 shares during the period. Manchester Capital Management LLC increased its position in shares of Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 60 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after acquiring an additional 19 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Accenture PLC in the first quarter valued at $122,000. Institutional investors own 77.73% of the company’s stock.
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.
Receive News & Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related companies with MarketBeat.com's FREE daily email newsletter.