Equities Analysts Set Expectations for Accenture Plc’s Q3 2019 Earnings (ACN)

Accenture Plc (NYSE:ACN) – Wedbush lowered their Q3 2019 earnings per share estimates for shares of Accenture in a research report issued on Thursday, March 28th, according to Zacks Investment Research. Wedbush analyst M. Katri now forecasts that the information technology services provider will post earnings per share of $1.87 for the quarter, down from their previous estimate of $1.95. Wedbush also issued estimates for Accenture’s Q4 2019 earnings at $1.72 EPS.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.16. The firm had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.30 billion. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 EPS.

A number of other brokerages also recently issued reports on ACN. Credit Suisse Group set a $170.00 price objective on Accenture and gave the company a “hold” rating in a research note on Tuesday, April 9th. BMO Capital Markets boosted their price objective on Accenture to $185.00 and gave the company a “market perform” rating in a research note on Friday, March 29th. William Blair reissued an “outperform” rating on shares of Accenture in a research note on Friday, March 29th. Berenberg Bank reissued a “buy” rating and issued a $190.00 price objective on shares of Accenture in a research note on Monday, April 1st. Finally, SunTrust Banks boosted their price objective on Accenture to $180.00 and gave the company a “hold” rating in a research note on Friday, March 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $183.58.

ACN traded down $0.34 during midday trading on Friday, hitting $178.61. 1,319,677 shares of the company were exchanged, compared to its average volume of 2,112,950. The company has a market capitalization of $120.02 billion, a PE ratio of 26.50, a PEG ratio of 2.37 and a beta of 1.12. Accenture has a 1-year low of $132.63 and a 1-year high of $180.00.

A number of institutional investors and hedge funds have recently modified their holdings of ACN. Valley National Advisers Inc. grew its holdings in shares of Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 73 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Accenture in the first quarter valued at approximately $27,000. Focused Wealth Management Inc grew its holdings in shares of Accenture by 100.0% in the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Accenture in the first quarter valued at approximately $30,000. Finally, Quantamental Technologies LLC bought a new position in shares of Accenture in the fourth quarter valued at approximately $42,000. 70.14% of the stock is owned by hedge funds and other institutional investors.

In other Accenture news, insider Ellyn Shook sold 1,172 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $155.00, for a total transaction of $181,660.00. Following the completion of the sale, the insider now directly owns 36,337 shares of the company’s stock, valued at approximately $5,632,235. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Johan Deblaere sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.80, for a total value of $527,400.00. Following the sale, the chief operating officer now directly owns 74,937 shares of the company’s stock, valued at $13,173,924.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,398 shares of company stock worth $1,870,285. 0.18% of the stock is owned by company insiders.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a dividend of $1.46 per share. This represents a yield of 1.66%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is currently 43.32%.

Accenture Company Profile

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.

Further Reading: The Role of a Fiduciary and Individual Investors

Get a free copy of the Zacks research report on Accenture (ACN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.