Accenture (ACN) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

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Accenture (NYSE:ACN) posted its quarterly earnings data on Thursday. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.07, MarketWatch Earnings reports. The company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.04 billion. Accenture had a net margin of 9.76% and a return on equity of 42.01%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. Accenture updated its FY18 guidance to $6.66-6.71 EPS.

ACN opened at $163.59 on Friday. Accenture has a one year low of $122.03 and a one year high of $165.58. The company has a market cap of $104.50 billion, a PE ratio of 24.77, a P/E/G ratio of 2.46 and a beta of 1.03.

Several analysts have recently weighed in on ACN shares. Wedbush dropped their price objective on shares of Accenture from $180.00 to $153.50 and set an “outperform” rating for the company in a report on Monday, April 2nd. BMO Capital Markets raised their price objective on shares of Accenture from $156.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, March 23rd. Sanford C. Bernstein started coverage on shares of Accenture in a report on Wednesday, March 28th. They set an “outperform” rating and a $180.00 price objective for the company. Pivotal Research reaffirmed a “buy” rating and set a $180.00 price objective on shares of Accenture in a report on Wednesday, April 11th. Finally, Barclays raised their price objective on shares of Accenture from $152.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $162.11.

In other news, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $156.10, for a total transaction of $312,200.00. Following the sale, the insider now directly owns 120,025 shares of the company’s stock, valued at $18,735,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gianfranco Casati sold 5,063 shares of the stock in a transaction that occurred on Friday, April 20th. The shares were sold at an average price of $152.99, for a total transaction of $774,588.37. Following the sale, the insider now directly owns 47,802 shares in the company, valued at $7,313,227.98. The disclosure for this sale can be found here. Insiders have sold 10,333 shares of company stock worth $1,586,869 over the last three months. 0.21% of the stock is owned by insiders.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

Earnings History for Accenture (NYSE:ACN)

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