Accenture (NYSE:ACN) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Accenture (NYSE:ACNGet Free Report) posted its quarterly earnings data on Thursday. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02), RTT News reports. The company had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 EPS. Accenture updated its FY24 guidance to $11.85-12.00 EPS.

Accenture Trading Up 1.0 %

Shares of ACN opened at $309.24 on Friday. The firm’s 50-day moving average price is $301.15 and its 200-day moving average price is $337.26. The firm has a market capitalization of $207.42 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 3.11 and a beta of 1.21. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture Announces Dividend

The business 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 dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Redburn Atlantic raised their price objective on shares of Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. BMO Capital Markets decreased their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday. Susquehanna decreased their target price on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday. Jefferies Financial Group decreased their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Finally, Robert W. Baird decreased their target price on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $358.09.

View Our Latest Analysis on ACN

Insider Activity

In other news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,083 shares of company stock valued at $8,959,325. Corporate insiders own 0.07% of the company’s stock.

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.

Further Reading

Earnings History for Accenture (NYSE:ACN)

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