Zacks: Brokerages Anticipate Accenture plc (NYSE:ACN) Will Post Quarterly Sales of $11.84 Billion


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Brokerages expect that Accenture plc (NYSE:ACN) will announce sales of $11.84 billion for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Accenture’s earnings. The lowest sales estimate is $11.67 billion and the highest is $11.95 billion. Accenture posted sales of $11.14 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The company is expected to announce its next quarterly earnings report on Thursday, March 18th.

According to Zacks, analysts expect that Accenture will report full-year sales of $47.93 billion for the current financial year, with estimates ranging from $47.42 billion to $48.37 billion. For the next year, analysts expect that the firm will report sales of $51.35 billion, with estimates ranging from $50.14 billion to $51.97 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Accenture.

Accenture (NYSE:ACN) last released its quarterly earnings data on Wednesday, December 16th. The information technology services provider reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.12. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The firm had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.36 billion. During the same period last year, the business earned $2.09 earnings per share. Accenture’s revenue was up 3.5% compared to the same quarter last year.

ACN has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Accenture from an “underperform” rating to a “neutral” rating and set a $261.00 price target for the company in a research report on Wednesday, January 6th. Wells Fargo & Company initiated coverage on shares of Accenture in a research report on Friday, December 18th. They set an “equal weight” rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Accenture from $265.00 to $303.00 in a research report on Friday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Accenture from $255.00 to $278.00 and gave the company a “buy” rating in a research report on Friday, December 18th. Finally, Susquehanna Bancshares cut shares of Accenture from a “positive” rating to a “neutral” rating and set a $250.00 price target for the company. in a research report on Monday, December 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $250.76.

In other Accenture news, CEO Julie Spellman Sweet sold 1,701 shares of the business’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $259.44, for a total value of $441,307.44. Following the transaction, the chief executive officer now directly owns 22,294 shares of the company’s stock, valued at approximately $5,783,955.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David Rowland sold 7,966 shares of the business’s stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $248.51, for a total transaction of $1,979,630.66. Insiders sold a total of 38,915 shares of company stock worth $9,882,906 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC acquired a new position in shares of Accenture during the 3rd quarter worth $25,000. Asset Dedication LLC grew its stake in shares of Accenture by 48.9% during the 3rd quarter. Asset Dedication LLC now owns 140 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 46 shares during the period. Cowa LLC acquired a new position in shares of Accenture during the 4th quarter worth $31,000. Fiduciary Planning LLC acquired a new position in shares of Accenture during the 3rd quarter worth $34,000. Finally, Newfound Research LLC acquired a new position in shares of Accenture during the 3rd quarter worth $35,000. 70.99% of the stock is currently owned by institutional investors.

Shares of ACN traded up $3.56 during trading on Tuesday, reaching $256.19. 2,191,303 shares of the company traded hands, compared to its average volume of 1,860,249. Accenture has a twelve month low of $137.15 and a twelve month high of $271.18. The stock has a market cap of $168.80 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.09 and a beta of 1.08. The stock has a 50-day simple moving average of $255.16 and a 200-day simple moving average of $242.23.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Thursday, January 14th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, January 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.37%. Accenture’s payout ratio is 47.18%.

About Accenture

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.

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