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Accenture (ACN) Gains As Market Dips: What You Should Know
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Accenture (ACN - Free Report) closed at $285.16 in the latest trading session, marking a +0.16% move from the prior day. This move outpaced the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Heading into today, shares of the consulting company had gained 1.29% over the past month, lagging the Business Services sector's gain of 6.5% and the S&P 500's gain of 5.83% in that time.
Investors will be hoping for strength from Accenture as it approaches its next earnings release, which is expected to be March 23, 2023. On that day, Accenture is projected to report earnings of $2.48 per share, which would represent a year-over-year decline of 2.36%. Meanwhile, our latest consensus estimate is calling for revenue of $15.52 billion, up 3.12% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.45 per share and revenue of $64.25 billion, which would represent changes of +6.91% and +4.31%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Accenture. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Accenture is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 24.87. This represents a premium compared to its industry's average Forward P/E of 22.08.
Also, we should mention that ACN has a PEG ratio of 2.62. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Consulting Services was holding an average PEG ratio of 1.41 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Accenture (ACN) Gains As Market Dips: What You Should Know
Accenture (ACN - Free Report) closed at $285.16 in the latest trading session, marking a +0.16% move from the prior day. This move outpaced the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Heading into today, shares of the consulting company had gained 1.29% over the past month, lagging the Business Services sector's gain of 6.5% and the S&P 500's gain of 5.83% in that time.
Investors will be hoping for strength from Accenture as it approaches its next earnings release, which is expected to be March 23, 2023. On that day, Accenture is projected to report earnings of $2.48 per share, which would represent a year-over-year decline of 2.36%. Meanwhile, our latest consensus estimate is calling for revenue of $15.52 billion, up 3.12% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.45 per share and revenue of $64.25 billion, which would represent changes of +6.91% and +4.31%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Accenture. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Accenture is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 24.87. This represents a premium compared to its industry's average Forward P/E of 22.08.
Also, we should mention that ACN has a PEG ratio of 2.62. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Consulting Services was holding an average PEG ratio of 1.41 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.