Accenture (NYSE:ACN) Updates FY 2022 Earnings Guidance

Accenture (NYSE:ACN) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $9.900-$10.180 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $9.870. The company issued revenue guidance of $56.60 billion-$58.11 billion, compared to the consensus revenue estimate of $55.59 billion.Accenture also updated its Q1 2022 guidance to EPS.

Shares of ACN opened at $330.18 on Thursday. The firm’s 50-day moving average is $331.50 and its two-hundred day moving average is $306.52. Accenture has a twelve month low of $212.45 and a twelve month high of $345.52. The firm has a market capitalization of $209.55 billion, a P/E ratio of 36.93, a PEG ratio of 3.48 and a beta of 1.11.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.01. The company had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.42 billion. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Sell-side analysts predict that Accenture will post 8.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Thursday, October 14th will be given a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, October 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.18%. This is a positive change from Accenture’s previous quarterly dividend of $0.88. Accenture’s dividend payout ratio is presently 47.18%.

Accenture announced that its board has authorized a share buyback plan on Thursday, September 23rd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

ACN has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Accenture from $330.00 to $385.00 and gave the company a market perform rating in a research note on Friday, September 24th. Bank of America raised their price target on shares of Accenture from $324.00 to $379.00 and gave the stock a buy rating in a research report on Friday, September 10th. Moffett Nathanson upgraded shares of Accenture from a neutral rating to a buy rating and raised their price target for the stock from $338.06 to $405.00 in a research report on Wednesday, September 22nd. They noted that the move was a valuation call. Robert W. Baird restated a hold rating on shares of Accenture in a research report on Sunday, September 19th. Finally, Citigroup lifted their price objective on shares of Accenture from $340.00 to $390.00 and gave the company a buy rating in a research report on Friday, September 24th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $352.42.

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $314.20, for a total value of $1,413,900.00. Following the sale, the chief financial officer now owns 16,131 shares in the company, valued at approximately $5,068,360.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 2,600 shares of the business’s stock in a transaction on Friday, July 23rd. The shares were sold at an average price of $317.47, for a total transaction of $825,422.00. Following the completion of the sale, the insider now owns 19,420 shares in the company, valued at approximately $6,165,267.40. The disclosure for this sale can be found here. Insiders sold a total of 16,495 shares of company stock worth $5,215,175 in the last three months. Insiders own 0.07% of the company’s stock.

A hedge fund recently bought a new stake in Accenture stock. OLD Mission Capital LLC purchased a new position in shares of Accenture plc (NYSE:ACN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 986 shares of the information technology services provider’s stock, valued at approximately $223,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

About Accenture

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Earnings History and Estimates for Accenture (NYSE:ACN)

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