Accenture (NYSE:ACN) Releases FY24 Earnings Guidance

Accenture (NYSE:ACNGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $11.85-12.00 for the period, compared to the consensus estimate of $12.09. The company issued revenue guidance of +1.5-2.5% to $65.07-65.73 billion, compared to the consensus revenue estimate of $65.19 billion.

Accenture Stock Performance

Shares of ACN stock opened at $309.24 on Friday. The firm has a market cap of $207.42 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 3.11 and a beta of 1.21. The firm’s 50-day simple moving average is $301.15 and its two-hundred day simple moving average is $337.26. Accenture has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The business had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 EPS. Analysts forecast that Accenture will post 12.06 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.67%. Accenture’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Accenture from $379.00 to $320.00 and set a neutral rating for the company in a research note on Monday, June 17th. Barclays reduced their price objective on shares of Accenture from $390.00 to $350.00 and set an overweight rating for the company in a research note on Monday, June 17th. Stifel Nicolaus reduced their price objective on shares of Accenture from $395.00 to $340.00 and set a buy rating for the company in a research note on Wednesday, June 12th. Piper Sandler Companies reduced their price objective on shares of Accenture from $379.00 to $320.00 and set a neutral rating for the company in a research note on Monday, June 17th. Finally, Guggenheim reissued a buy rating and issued a $395.00 price target on shares of Accenture in a research note on Friday, May 24th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $358.09.

Read Our Latest Stock Report on Accenture

Insider Activity at Accenture

In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the transaction, the general counsel now owns 30,702 shares in the company, valued at approximately $9,705,516.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the transaction, the general counsel now owns 30,702 shares in the company, valued at approximately $9,705,516.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is owned by insiders.

About Accenture

(Get Free Report)

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.

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Earnings History and Estimates for Accenture (NYSE:ACN)

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