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Accenture (ACN) Rises Higher Than Market: Key Facts
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Accenture (ACN - Free Report) ended the recent trading session at $354.12, demonstrating a +1.3% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Shares of the consulting company witnessed a gain of 6.93% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.56% and the S&P 500's gain of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Accenture in its upcoming earnings disclosure. The company's earnings report is set to go public on September 26, 2024. It is anticipated that the company will report an EPS of $2.77, marking a 2.21% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $16.33 billion, showing a 2.17% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Accenture should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. Accenture currently has a Zacks Rank of #2 (Buy).
In the context of valuation, Accenture is at present trading with a Forward P/E ratio of 27.76. This expresses a premium compared to the average Forward P/E of 27.26 of its industry.
It is also worth noting that ACN currently has a PEG ratio of 3.82. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 3.02.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 52, placing it within the top 21% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Accenture (ACN) Rises Higher Than Market: Key Facts
Accenture (ACN - Free Report) ended the recent trading session at $354.12, demonstrating a +1.3% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Shares of the consulting company witnessed a gain of 6.93% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.56% and the S&P 500's gain of 3.67%.
Analysts and investors alike will be keeping a close eye on the performance of Accenture in its upcoming earnings disclosure. The company's earnings report is set to go public on September 26, 2024. It is anticipated that the company will report an EPS of $2.77, marking a 2.21% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $16.33 billion, showing a 2.17% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Accenture should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. Accenture currently has a Zacks Rank of #2 (Buy).
In the context of valuation, Accenture is at present trading with a Forward P/E ratio of 27.76. This expresses a premium compared to the average Forward P/E of 27.26 of its industry.
It is also worth noting that ACN currently has a PEG ratio of 3.82. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 3.02.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 52, placing it within the top 21% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.