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Accenture (ACN) Dips More Than Broader Markets: What You Should Know
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Accenture (ACN - Free Report) closed the most recent trading day at $318.45, moving -0.73% from the previous trading session. This move lagged the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.48%.
Coming into today, shares of the consulting company had gained 14.55% in the past month. In that same time, the Business Services sector gained 13.67%, while the S&P 500 gained 11.6%.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be September 22, 2022. On that day, Accenture is projected to report earnings of $2.57 per share, which would represent year-over-year growth of 16.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.45 billion, up 15.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.68 per share and revenue of $61.62 billion, which would represent changes of +21.36% and +21.94%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Accenture. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Accenture is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 30.04. This represents a premium compared to its industry's average Forward P/E of 22.34.
We can also see that ACN currently has a PEG ratio of 3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Consulting Services stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Accenture (ACN) Dips More Than Broader Markets: What You Should Know
Accenture (ACN - Free Report) closed the most recent trading day at $318.45, moving -0.73% from the previous trading session. This move lagged the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.48%.
Coming into today, shares of the consulting company had gained 14.55% in the past month. In that same time, the Business Services sector gained 13.67%, while the S&P 500 gained 11.6%.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be September 22, 2022. On that day, Accenture is projected to report earnings of $2.57 per share, which would represent year-over-year growth of 16.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.45 billion, up 15.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.68 per share and revenue of $61.62 billion, which would represent changes of +21.36% and +21.94%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Accenture. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Accenture is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 30.04. This represents a premium compared to its industry's average Forward P/E of 22.34.
We can also see that ACN currently has a PEG ratio of 3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Consulting Services stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.