We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Accenture (ACN) Stock Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
Accenture (ACN - Free Report) ended the recent trading session at $315.88, demonstrating a -0.67% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 2.3%. Elsewhere, the Dow saw an upswing of 1.76%, while the tech-heavy Nasdaq appreciated by 2.87%.
Shares of the consulting company witnessed a gain of 7.64% over the previous month, beating the performance of the Computer and Technology sector with its loss of 13.66% and the S&P 500's loss of 6.5%.
Market participants will be closely following the financial results of Accenture in its upcoming release. The company plans to announce its earnings on September 26, 2024. On that day, Accenture is projected to report earnings of $2.77 per share, which would represent year-over-year growth of 2.21%. Alongside, our most recent consensus estimate is anticipating revenue of $16.31 billion, indicating a 2.05% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $11.95 per share and a revenue of $64.79 billion, demonstrating changes of +2.4% and +1.06%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Accenture. Such recent modifications usually signify the changing landscape 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. Right now, Accenture possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Accenture is holding a Forward P/E ratio of 26.62. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 26.62.
It is also worth noting that ACN currently has a PEG ratio of 3.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computers - IT Services was holding an average PEG ratio of 3.1 at yesterday's closing price.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Accenture (ACN) Stock Falls Amid Market Uptick: What Investors Need to Know
Accenture (ACN - Free Report) ended the recent trading session at $315.88, demonstrating a -0.67% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 2.3%. Elsewhere, the Dow saw an upswing of 1.76%, while the tech-heavy Nasdaq appreciated by 2.87%.
Shares of the consulting company witnessed a gain of 7.64% over the previous month, beating the performance of the Computer and Technology sector with its loss of 13.66% and the S&P 500's loss of 6.5%.
Market participants will be closely following the financial results of Accenture in its upcoming release. The company plans to announce its earnings on September 26, 2024. On that day, Accenture is projected to report earnings of $2.77 per share, which would represent year-over-year growth of 2.21%. Alongside, our most recent consensus estimate is anticipating revenue of $16.31 billion, indicating a 2.05% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $11.95 per share and a revenue of $64.79 billion, demonstrating changes of +2.4% and +1.06%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Accenture. Such recent modifications usually signify the changing landscape 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. Right now, Accenture possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Accenture is holding a Forward P/E ratio of 26.62. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 26.62.
It is also worth noting that ACN currently has a PEG ratio of 3.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computers - IT Services was holding an average PEG ratio of 3.1 at yesterday's closing price.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.