Jefferies Group Equities Analysts Reduce Earnings Estimates for Accenture PLC (ACN)
Accenture PLC (NYSE:ACN) – Stock analysts at Jefferies Group reduced their Q1 2018 EPS estimates for Accenture PLC in a research report issued on Tuesday. Jefferies Group analyst J. Kupferberg now anticipates that the firm will post earnings of $1.59 per share for the quarter, down from their prior estimate of $1.61. Jefferies Group also issued estimates for Accenture PLC’s Q2 2018 earnings at $1.41 EPS.
A number of other equities analysts have also recently commented on ACN. Cowen and Company lifted their price objective on shares of Accenture PLC from $118.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 31st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $126.00 price objective on shares of Accenture PLC in a research report on Monday, June 20th. Bank of America Corp. reaffirmed a “hold” rating on shares of Accenture PLC in a research report on Monday, June 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $112.00 price objective (up from $104.00) on shares of Accenture PLC in a research report on Wednesday, June 22nd. Finally, Susquehanna reaffirmed a “positive” rating and set a $130.00 price objective on shares of Accenture PLC in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $120.92.
Accenture PLC (NYSE:ACN) traded up 1.68% during midday trading on Thursday, hitting $113.58. 1,728,449 shares of the stock traded hands. The stock has a market capitalization of $70.71 billion, a PE ratio of 19.20 and a beta of 1.17. The firm’s 50 day moving average is $113.22 and its 200-day moving average is $114.00. Accenture PLC has a 12-month low of $91.40 and a 12-month high of $120.78.
Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, June 23rd. The company reported $1.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. Accenture PLC had a net margin of 11.24% and a return on equity of 47.61%. The business had revenue of $8.43 billion for the quarter. During the same period in the previous year, the company posted $1.30 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year.
In other Accenture PLC news, COO Johan Deblaere sold 5,000 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $109.88, for a total transaction of $549,400.00. Following the transaction, the chief operating officer now directly owns 134,650 shares in the company, valued at approximately $14,795,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Rowland sold 4,553 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $109.84, for a total value of $500,101.52. Following the transaction, the chief financial officer now owns 16,845 shares in the company, valued at $1,850,254.80. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ACN. FMR LLC boosted its position in Accenture PLC by 39.4% in the second quarter. FMR LLC now owns 12,730,924 shares of the company’s stock worth $1,442,286,000 after buying an additional 3,595,128 shares during the last quarter. WCM Investment Management CA acquired a new position in Accenture PLC during the second quarter worth about $223,849,000. Emerald Acquisition Ltd. acquired a new position in Accenture PLC during the second quarter worth about $175,381,000. Janus Capital Management LLC boosted its position in Accenture PLC by 59.8% in the second quarter. Janus Capital Management LLC now owns 3,670,692 shares of the company’s stock worth $415,853,000 after buying an additional 1,373,714 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Accenture PLC during the second quarter worth about $116,516,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.
About Accenture PLC
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
Receive News & Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related companies with MarketBeat.com's FREE daily email newsletter.