Stock analysts at William Blair have revised their estimates for Accenture’s Q2 2024 earnings. Analyst M. Nolan now expects the information technology services provider to post earnings of $2.65 per share for the quarter, down from the previous forecast of $2.66. The consensus estimate for Accenture’s full-year earnings is $12.11 per share. William Blair also issued estimates for Accenture’s Q3 2024 earnings at $3.35 EPS, Q4 2024 earnings at $3.15 EPS, FY2024 earnings at $12.13 EPS, and FY2025 earnings at $13.04 EPS.
Several other research firms have commented on Accenture’s stock. Wedbush reaffirmed an “outperform” rating and set a $330.00 price target. BMO Capital Markets decreased their price target from $360.00 to $350.00, while TD Cowen and Piper Sandler both lowered their price targets to $300.00. Robert W. Baird also decreased its target price to $322.00. Seven equities research analysts have rated the stock as a hold, while nine have given it a buy rating, according to MarketBeat.
Shares of Accenture on the NYSE opened at $307.11 on Monday. The company has a 50-day moving average of $315.86 and a two-hundred-day moving average of $300.13. Accenture’s 52-week range is from $242.80 to $330.43, and its market capitalization is $204.12 billion. The stock has a PE ratio of 28.52, a P/E/G ratio of 2.83, and a beta of 1.22.
During the company’s most recent earnings release on September 28th, Accenture reported earnings per share of $2.71, beating analysts’ consensus estimates by $0.06. The business had quarterly revenue of $15.99 billion, slightly lower than the consensus estimate of $16.07 billion. Accenture’s revenue for the quarter was up 3.6% year-over-year, and it had a net margin of 10.72%.
Institutional investors have been active in trading Accenture’s stock recently. Hedge funds and other institutional investors own 70.42% of the company’s stock. Insider activity has also been observed, with CEO Leonardo Framil selling 3,000 shares and CEO Leonardo Framil selling an additional 3,000 shares.
Accenture recently announced an increase in its quarterly dividend. Investors of record will receive a dividend of $1.29 per share on November 15th. The ex-dividend date is October 11th, and the annualized dividend yield is 1.68%.
Definitions:
– Q2: Abbreviation for the second quarter of the financial year.
– Earnings estimates: Predictions or forecasts made by analysts about a company’s financial performance.
– Information technology services provider: A company that offers IT services to other organizations.
– Full-year earnings: The total earnings of a company for the entire financial year.
– Consensus estimate: The average estimate or prediction of analysts.
– Price objective/price target: The anticipated price of a stock as predicted by a research firm.
– Moving average: An average of a stock’s price over a specific time period, used to identify trends.
– PE ratio: Price-to-earnings ratio, which shows how much investors are willing to pay for each dollar of a company’s earnings.
– P/E/G ratio: Price-to-earnings growth ratio, which compares a stock’s P/E ratio to its expected growth rate.
– Beta: A measure of a stock’s volatility in relation to the overall market.
– Return on equity: A measure of a company’s profitability in relation to its shareholders’ equity.
– Net margin: The percentage of revenue a company keeps as profit after all expenses.
– Institutional investors: Organizations like mutual funds, pension funds, and insurance companies that invest large amounts of money in stocks.
– Hedge funds: Investment funds that pool capital from high net worth individuals and institutional investors to pursue aggressive investment strategies.
– Ex-dividend date: The day on which new investors are no longer entitled to receive the upcoming dividend payment.
– Dividend yield: The dividend payout divided by the stock’s current market price.
Sources:
– Accenture plc (NYSE:ACN) – Stock analysts at William Blair dropped their Q2 2024 earnings estimates for Accenture…
– https://www.marketbeat.com/stocks/NYSE/ACN/
– https://www.nasdaq.com/press-release/accenture-to-provide-haas-f1-team-with-intelligent-…
– https://www.streetinsider.com/dr/news.php?id=19236605
