Accenture Plc (ACN) Expected to Post Earnings of $1.49 Per Share

Wall Street brokerages expect Accenture Plc (NYSE:ACN) to post earnings of $1.49 per share for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Accenture’s earnings, with the highest EPS estimate coming in at $1.53 and the lowest estimate coming in at $1.47. Accenture posted earnings per share of $1.33 in the same quarter last year, which would suggest a positive year-over-year growth rate of 12%. The company is expected to report its next earnings results on Thursday, March 22nd.

On average, analysts expect that Accenture will report full-year earnings of $6.65 per share for the current fiscal year, with EPS estimates ranging from $6.55 to $6.74. For the next year, analysts forecast that the business will post earnings of $7.20 per share, with EPS estimates ranging from $7.00 to $7.43. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Accenture.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year.

A number of brokerages have recently issued reports on ACN. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley raised shares of Accenture from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $159.00 to $140.00 in a research report on Monday, February 5th. Cowen reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Accenture in a research report on Friday, January 12th. Credit Suisse Group set a $165.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Finally, KeyCorp lifted their target price on shares of Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a research note on Saturday, December 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $156.57.

Shares of Accenture (ACN) traded down $1.05 during trading on Tuesday, hitting $161.61. 521,503 shares of the stock were exchanged, compared to its average volume of 2,190,466. Accenture has a 52-week low of $114.82 and a 52-week high of $163.60. The stock has a market cap of $104,280.00, a P/E ratio of 28.65, a P/E/G ratio of 2.45 and a beta of 1.05.

In other Accenture news, CAO Richard P. Clark sold 1,433 shares of Accenture stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total transaction of $226,944.21. Following the completion of the sale, the chief accounting officer now directly owns 8,932 shares in the company, valued at approximately $1,414,560.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $152.92, for a total transaction of $764,600.00. Following the sale, the insider now owns 46,202 shares of the company’s stock, valued at $7,065,209.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,249 shares of company stock valued at $18,106,228. Company insiders own 0.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACN. Jacobi Capital Management LLC increased its holdings in shares of Accenture by 104.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares in the last quarter. Farmers National Bank purchased a new position in shares of Accenture during the 4th quarter valued at approximately $107,000. Virtue Capital Management LLC purchased a new position in shares of Accenture during the 4th quarter valued at approximately $128,000. Aevitas Wealth Management Inc. purchased a new position in shares of Accenture during the 4th quarter valued at approximately $131,000. Finally, Santori & Peters Inc. purchased a new position in shares of Accenture during the 4th quarter valued at approximately $181,000. Institutional investors and hedge funds own 74.64% of the company’s stock.

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About Accenture

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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