Accenture (NYSE:ACN) Announces Earnings Results, Misses Expectations By $0.02 EPS

Accenture (NYSE:ACNGet Free Report) issued its earnings results on Thursday. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02), RTT News reports. The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 EPS. Accenture updated its FY24 guidance to $11.85-12.00 EPS.

Accenture Stock Up 1.0 %

ACN stock opened at $309.24 on Friday. The business’s 50-day moving average price is $301.15 and its 200-day moving average price is $337.26. The stock has a market cap of $207.42 billion, a P/E ratio of 28.04, a PEG ratio of 3.11 and a beta of 1.21. Accenture has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, July 11th. Accenture’s payout ratio is 46.78%.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Accenture news, COO John F. Walsh sold 8,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACN. TD Cowen cut their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday. BMO Capital Markets lowered their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday. Piper Sandler lowered their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Piper Sandler Companies cut their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Finally, Barclays lowered their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $358.09.

Check Out Our Latest Report on Accenture

Accenture Company Profile

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Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.

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Earnings History for Accenture (NYSE:ACN)

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