Brokers Issue Forecasts for Accenture Plc’s Q3 2018 Earnings (ACN)

Accenture Plc (NYSE:ACN) – Analysts at KeyCorp dropped their Q3 2018 earnings estimates for Accenture in a report issued on Thursday. KeyCorp analyst A. Ramnani now expects that the information technology services provider will post earnings of $1.71 per share for the quarter, down from their previous forecast of $1.76. KeyCorp has a “Positive” rating and a $181.00 price target on the stock. KeyCorp also issued estimates for Accenture’s Q1 2019 earnings at $1.72 EPS, Q2 2019 earnings at $1.66 EPS, Q3 2019 earnings at $2.05 EPS and Q4 2019 earnings at $1.84 EPS.

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Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.49 by $0.09. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.31 billion. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS.

Several other brokerages also recently commented on ACN. Pivotal Research set a $180.00 target price on Accenture and gave the company a “buy” rating in a report on Tuesday, February 20th. Robert W. Baird raised their price objective on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. Wedbush restated an “outperform” rating and set a $180.00 price objective (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Cowen restated a “buy” rating and set a $175.00 price objective on shares of Accenture in a research note on Friday, January 12th. Finally, Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $159.00 to $140.00 in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $159.91.

Shares of Accenture (ACN) opened at $147.35 on Monday. The company has a market capitalization of $93,608.22, a PE ratio of 25.90, a P/E/G ratio of 2.21 and a beta of 1.01. Accenture has a twelve month low of $114.82 and a twelve month high of $165.58.

Several institutional investors and hedge funds have recently modified their holdings of the company. Chemical Bank grew its position in shares of Accenture by 5.3% in the 4th quarter. Chemical Bank now owns 33,990 shares of the information technology services provider’s stock worth $5,204,000 after acquiring an additional 1,700 shares in the last quarter. Wagner Wealth Management LLC acquired a new position in Accenture during the 4th quarter valued at approximately $179,000. Colonial Trust Advisors boosted its position in Accenture by 39.2% during the 4th quarter. Colonial Trust Advisors now owns 46,129 shares of the information technology services provider’s stock valued at $7,062,000 after purchasing an additional 12,992 shares during the period. Xact Kapitalforvaltning AB boosted its position in Accenture by 6.0% during the 4th quarter. Xact Kapitalforvaltning AB now owns 129,257 shares of the information technology services provider’s stock valued at $19,788,000 after purchasing an additional 7,343 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Accenture by 3.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 266,793 shares of the information technology services provider’s stock valued at $40,843,000 after purchasing an additional 8,660 shares during the period. Institutional investors own 75.57% of the company’s stock.

In other news, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $152.92, for a total value of $764,600.00. Following the completion of the transaction, the insider now owns 46,202 shares in the company, valued at approximately $7,065,209.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Pierre Nanterme sold 34,232 shares of Accenture stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $152.94, for a total value of $5,235,442.08. Following the completion of the transaction, the chief executive officer now owns 262,490 shares of the company’s stock, valued at approximately $40,145,220.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,249 shares of company stock valued at $18,106,228. Insiders own 0.21% 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.

Earnings History and Estimates for Accenture (NYSE:ACN)

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