$10.47 Billion in Sales Expected for Accenture Plc (ACN) This Quarter

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Wall Street brokerages expect that Accenture Plc (NYSE:ACN) will post sales of $10.47 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Accenture’s earnings. The highest sales estimate is $10.57 billion and the lowest is $10.19 billion. Accenture posted sales of $9.52 billion during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, December 20th.

On average, analysts expect that Accenture will report full year sales of $42.72 billion for the current fiscal year, with estimates ranging from $41.50 billion to $43.42 billion. For the next financial year, analysts expect that the firm will report sales of $45.54 billion, with estimates ranging from $44.17 billion to $46.84 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Accenture.

Accenture (NYSE:ACN) last released its earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $10.01 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year.

ACN has been the subject of several recent research reports. Moffett Nathanson initiated coverage on Accenture in a report on Thursday, October 4th. They set a “buy” rating and a $200.00 price objective for the company. SunTrust Banks increased their price objective on Accenture to $178.00 and gave the stock a “hold” rating in a report on Monday, October 1st. Argus reiterated a “buy” rating on shares of Accenture in a report on Monday, October 1st. BMO Capital Markets increased their price objective on Accenture to $180.00 and gave the stock a “market perform” rating in a report on Friday, September 28th. Finally, Robert W. Baird increased their price objective on Accenture from $174.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $177.02.

In other news, CEO Pierre Nanterme sold 30,117 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $173.45, for a total value of $5,223,793.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Rowland sold 3,190 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $156.67, for a total value of $499,777.30. Following the completion of the sale, the chief financial officer now directly owns 36,861 shares in the company, valued at $5,775,012.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,717 shares of company stock worth $13,041,890. Corporate insiders own 0.21% of the company’s stock.

Several large investors have recently modified their holdings of ACN. WP Advisors LLC acquired a new stake in shares of Accenture in the second quarter valued at about $106,000. MUFG Securities EMEA plc acquired a new stake in Accenture during the second quarter worth about $118,000. Fort L.P. acquired a new stake in Accenture during the second quarter worth about $124,000. Valeo Financial Advisors LLC grew its position in Accenture by 48.3% during the second quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock worth $162,000 after buying an additional 329 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its position in Accenture by 2,784.6% during the third quarter. Providence Capital Advisors LLC now owns 1,125 shares of the information technology services provider’s stock worth $191,000 after buying an additional 1,086 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors.

Shares of ACN traded up $2.51 during mid-day trading on Wednesday, reaching $165.00. The company’s stock had a trading volume of 3,204,915 shares, compared to its average volume of 2,076,534. The firm has a market capitalization of $106.47 billion, a P/E ratio of 24.48, a PEG ratio of 2.15 and a beta of 1.01. Accenture has a 1 year low of $144.75 and a 1 year high of $175.64.

The business also recently announced a semiannual dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th were issued a dividend of $1.46 per share. This is a positive change from Accenture’s previous semiannual dividend of $1.21. This represents a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, October 17th. Accenture’s dividend payout ratio (DPR) is 43.32%.

About Accenture

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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