FY2019 EPS Estimates for Accenture Plc Increased by Analyst (NYSE:ACN)

Accenture Plc (NYSE:ACN) – Equities research analysts at Wedbush increased their FY2019 earnings per share (EPS) 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 of $7.29 per share for the year, up from their previous forecast of $7.26. Wedbush also issued estimates for Accenture’s Q1 2020 earnings at $2.03 EPS, Q4 2020 earnings at $1.96 EPS and FY2020 earnings at $7.84 EPS.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 10.52% and a return on equity of 38.57%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share.

A number of other brokerages also recently issued reports on ACN. Citigroup upgraded shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $161.00 to $169.00 in a research note on Wednesday, January 16th. KeyCorp raised their price target on shares of Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, March 29th. Cantor Fitzgerald raised their price target on shares of Accenture from $185.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, March 29th. ValuEngine downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, SunTrust Banks raised their price target on shares of 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Accenture has an average rating of “Buy” and a consensus target price of $183.58.

Accenture stock traded up $0.33 during trading hours on Monday, reaching $180.81. 1,359,624 shares of the stock were exchanged, compared to its average volume of 1,976,415. The company has a market capitalization of $120.10 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 2.37 and a beta of 1.12. Accenture has a twelve month low of $132.63 and a twelve month high of $181.41.

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

In related news, CAO Richard P. Clark sold 6,266 shares of Accenture stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $177.78, for a total transaction of $1,113,969.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Rowland sold 2,883 shares of Accenture stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $151.75, for a total transaction of $437,495.25. Following the sale, the chief executive officer now owns 27,367 shares in the company, valued at $4,152,942.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,974 shares of company stock worth $6,254,588. 0.18% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Valley National Advisers Inc. raised its holdings in Accenture by 70.2% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 73 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Accenture in the 1st quarter valued at $27,000. Focused Wealth Management Inc increased its stake in shares of Accenture by 100.0% in the 4th 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 stake in shares of Accenture in the 1st quarter valued at $30,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Accenture in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.

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.

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Earnings History and Estimates for Accenture (NYSE:ACN)

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