$10.02 Billion in Sales Expected for Accenture (ACN) This Quarter

Equities research analysts expect Accenture (NYSE:ACN) to report sales of $10.02 billion for the current quarter, Zacks reports. Nine analysts have issued estimates for Accenture’s earnings, with estimates ranging from $10.00 billion to $10.11 billion. Accenture posted sales of $8.87 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 13%. The company is scheduled to issue its next earnings report on Thursday, June 28th.

On average, analysts expect that Accenture will report full year sales of $39.19 billion for the current fiscal year, with estimates ranging from $39.04 billion to $39.44 billion. For the next year, analysts forecast that the company will post sales of $42.02 billion per share, with estimates ranging from $41.55 billion to $42.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Accenture.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The company 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 firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share.

Several equities research analysts have weighed in on the company. Pivotal Research set a $180.00 price target on Accenture and gave the stock a “buy” rating in a report on Tuesday, February 20th. Robert W. Baird raised their price target on Accenture from $162.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, March 20th. KeyCorp raised their price target on Accenture from $172.00 to $181.00 and gave the stock a “positive” rating in a report on Monday, March 19th. Wedbush reissued an “outperform” rating and issued a $180.00 price target (up previously from $165.00) on shares of Accenture in a report on Tuesday, March 20th. Finally, Morgan Stanley raised Accenture from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $159.00 to $140.00 in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. Accenture presently has a consensus rating of “Buy” and an average price target of $161.20.

Shares of Accenture opened at $154.93 on Friday, according to MarketBeat. The stock has a market capitalization of $97.88 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.30 and a beta of 1.03. Accenture has a fifty-two week low of $153.87 and a fifty-two week high of $154.97.

In other news, CFO David Rowland sold 3,270 shares of the firm’s stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $152.93, for a total value of $500,081.10. Following the completion of the transaction, the chief financial officer now directly owns 20,243 shares in the company, valued at $3,095,761.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Pierre Nanterme sold 36,858 shares of Accenture stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $150.80, for a total value of $5,558,186.40. Following the transaction, the chief executive officer now owns 357,405 shares of the company’s stock, valued at $53,896,674. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,828 shares of company stock valued at $8,145,630. Company insiders own 0.21% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Foster & Motley Inc. raised its position in Accenture by 0.8% during the fourth quarter. Foster & Motley Inc. now owns 39,904 shares of the information technology services provider’s stock valued at $6,109,000 after acquiring an additional 318 shares in the last quarter. Park Avenue Securities LLC raised its position in Accenture by 11.2% during the fourth quarter. Park Avenue Securities LLC now owns 3,251 shares of the information technology services provider’s stock valued at $500,000 after acquiring an additional 327 shares in the last quarter. Capital Analysts LLC raised its position in Accenture by 4.9% during the fourth quarter. Capital Analysts LLC now owns 7,937 shares of the information technology services provider’s stock valued at $1,215,000 after acquiring an additional 368 shares in the last quarter. D.A. Davidson & CO. raised its position in Accenture by 4.3% during the fourth quarter. D.A. Davidson & CO. now owns 9,219 shares of the information technology services provider’s stock valued at $1,411,000 after acquiring an additional 383 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its position in Accenture by 8.5% during the first quarter. Peapack Gladstone Financial Corp now owns 4,932 shares of the information technology services provider’s stock valued at $757,000 after acquiring an additional 386 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Earnings History and Estimates for Accenture (NYSE:ACN)

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