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Accenture (ACN) Stock Moves -1.52%: What You Should Know
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Accenture (ACN - Free Report) closed the most recent trading day at $312, moving -1.52% from the previous trading session. This change was narrower than the S&P 500's 1.64% loss on the day. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Prior to today's trading, shares of the consulting company had gained 0.46% over the past month. This has lagged the Business Services sector's gain of 1.38% and the S&P 500's gain of 0.89% 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 September 28, 2023. The company is expected to report EPS of $2.62, up 0.77% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.06 billion, up 4.11% from the year-ago period.
Investors should also note any 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. 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.
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. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Accenture is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 25.66. This valuation marks a premium compared to its industry's average Forward P/E of 22.95.
We can also see that ACN currently has a PEG ratio of 2.89. 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. 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 112, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Accenture (ACN) Stock Moves -1.52%: What You Should Know
Accenture (ACN - Free Report) closed the most recent trading day at $312, moving -1.52% from the previous trading session. This change was narrower than the S&P 500's 1.64% loss on the day. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Prior to today's trading, shares of the consulting company had gained 0.46% over the past month. This has lagged the Business Services sector's gain of 1.38% and the S&P 500's gain of 0.89% 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 September 28, 2023. The company is expected to report EPS of $2.62, up 0.77% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.06 billion, up 4.11% from the year-ago period.
Investors should also note any 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. 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.
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. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Accenture is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 25.66. This valuation marks a premium compared to its industry's average Forward P/E of 22.95.
We can also see that ACN currently has a PEG ratio of 2.89. 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. 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 112, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.