Analysts Expect Accenture Plc (NYSE:ACN) Will Announce Quarterly Sales of $11.08 Billion

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Equities analysts expect Accenture Plc (NYSE:ACN) to report $11.08 billion in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Accenture’s earnings. The lowest sales estimate is $11.03 billion and the highest is $11.13 billion. Accenture reported sales of $10.15 billion during the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The company is expected to report its next earnings report on Thursday, September 26th.

According to Zacks, analysts expect that Accenture will report full-year sales of $43.24 billion for the current year, with estimates ranging from $43.19 billion to $43.29 billion. For the next fiscal year, analysts forecast that the business will report sales of $46.26 billion, with estimates ranging from $45.87 billion to $46.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Accenture.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.04. Accenture had a return on equity of 36.24% and a net margin of 10.93%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the company earned $1.79 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.

Several research analysts have commented on the company. Wells Fargo & Co lifted their price target on Accenture from $193.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Credit Suisse Group set a $180.00 price target on Accenture and gave the stock a “hold” rating in a research report on Friday, June 28th. BMO Capital Markets lifted their price target on Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a research report on Friday, June 28th. Bank of America lifted their price target on Accenture from $182.00 to $186.00 and gave the stock a “neutral” rating in a research report on Thursday, June 20th. Finally, UBS Group set a $190.00 price target on Accenture and gave the stock a “hold” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Accenture has an average rating of “Buy” and an average price target of $192.38.

NYSE ACN traded up $2.58 during trading on Friday, hitting $195.80. The company’s stock had a trading volume of 412,022 shares, compared to its average volume of 1,705,835. The firm has a 50 day moving average price of $192.24 and a 200 day moving average price of $177.51. The firm has a market cap of $127.38 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. Accenture has a 52 week low of $132.63 and a 52 week high of $197.47.

In other news, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $186.35, for a total transaction of $372,700.00. Following the sale, the insider now directly owns 77,240 shares in the company, valued at $14,393,674. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total value of $970,000.00. Following the sale, the insider now owns 36,713 shares in the company, valued at $7,122,322. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,760 shares of company stock worth $4,353,328. 0.18% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Accenture by 1.7% in the second quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock worth $10,231,417,000 after buying an additional 909,318 shares during the period. Morgan Stanley boosted its stake in shares of Accenture by 5.3% during the 2nd quarter. Morgan Stanley now owns 10,736,302 shares of the information technology services provider’s stock worth $1,983,748,000 after acquiring an additional 536,568 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Accenture by 1.0% during the 1st quarter. Northern Trust Corp now owns 9,953,819 shares of the information technology services provider’s stock worth $1,752,071,000 after acquiring an additional 101,220 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Accenture by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,411,450 shares of the information technology services provider’s stock worth $1,738,951,000 after acquiring an additional 173,942 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of Accenture by 2.1% during the 2nd quarter. WCM Investment Management LLC now owns 6,303,065 shares of the information technology services provider’s stock worth $1,164,618,000 after acquiring an additional 128,827 shares during the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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