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Accenture (ACN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Accenture (ACN - Free Report) closed at $311.53, marking a -1.15% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.54%, while the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the consulting company had gained 1.75% in the past month. In that same time, the Business Services sector gained 1.88%, while the S&P 500 gained 2.35%.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be September 28, 2023. In that report, analysts expect Accenture to post earnings of $2.63 per share. This would mark year-over-year growth of 1.15%. Meanwhile, our latest consensus estimate is calling for revenue of $16.06 billion, up 4.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.59 per share and revenue of $64.18 billion, which would represent changes of +8.22% and +4.2%, respectively, from the prior year.
Any recent changes to analyst estimates for Accenture should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 27.19. For comparison, its industry has an average Forward P/E of 22.27, which means Accenture is trading at a premium to the group.
Meanwhile, ACN's PEG ratio is currently 2.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ACN's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Accenture (ACN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Accenture (ACN - Free Report) closed at $311.53, marking a -1.15% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.54%, while the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the consulting company had gained 1.75% in the past month. In that same time, the Business Services sector gained 1.88%, while the S&P 500 gained 2.35%.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be September 28, 2023. In that report, analysts expect Accenture to post earnings of $2.63 per share. This would mark year-over-year growth of 1.15%. Meanwhile, our latest consensus estimate is calling for revenue of $16.06 billion, up 4.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.59 per share and revenue of $64.18 billion, which would represent changes of +8.22% and +4.2%, respectively, from the prior year.
Any recent changes to analyst estimates for Accenture should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 27.19. For comparison, its industry has an average Forward P/E of 22.27, which means Accenture is trading at a premium to the group.
Meanwhile, ACN's PEG ratio is currently 2.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ACN's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.