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Accenture (ACN) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Accenture (ACN - Free Report) closed at $287.65, marking a +1.01% move from the previous day. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 3.77%.
Prior to today's trading, shares of the consulting company had lost 0.04% over the past month. This has lagged the Business Services sector's gain of 2.92% and the S&P 500's gain of 3.54% in that time.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be March 23, 2023. The company is expected to report EPS of $2.48, down 2.36% from the prior-year quarter. 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.
It is also important to note the recent changes to analyst estimates for Accenture. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.07% lower within the past month. Accenture is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Accenture has a Forward P/E ratio of 24.88 right now. Its industry sports an average Forward P/E of 21.71, so we one might conclude that Accenture is trading at a premium comparatively.
Investors should also note that ACN has a PEG ratio of 2.62 right now. 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 industry currently had an average PEG ratio of 1.38 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 98, 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Accenture (ACN - Free Report) closed at $287.65, marking a +1.01% move from the previous day. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 3.77%.
Prior to today's trading, shares of the consulting company had lost 0.04% over the past month. This has lagged the Business Services sector's gain of 2.92% and the S&P 500's gain of 3.54% in that time.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be March 23, 2023. The company is expected to report EPS of $2.48, down 2.36% from the prior-year quarter. 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.
It is also important to note the recent changes to analyst estimates for Accenture. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.07% lower within the past month. Accenture is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Accenture has a Forward P/E ratio of 24.88 right now. Its industry sports an average Forward P/E of 21.71, so we one might conclude that Accenture is trading at a premium comparatively.
Investors should also note that ACN has a PEG ratio of 2.62 right now. 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 industry currently had an average PEG ratio of 1.38 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 98, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.