Accenture (NYSE:ACN) Issues FY 2024 Earnings Guidance

Accenture (NYSE:ACN) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 11.850-12.000 for the period, compared to the consensus EPS estimate of 12.080. The company issued revenue guidance of $65.1 billion-$65.7 billion, compared to the consensus revenue estimate of $65.1 billion. Accenture also updated its Q4 2024 guidance to EPS.

Analysts Set New Price Targets

Several research firms have recently commented on ACN. Morgan Stanley reaffirmed an overweight rating and set a $400.00 price target on shares of Accenture in a research report on Friday. Robert W. Baird dropped their price objective on Accenture from $372.00 to $345.00 and set a neutral rating for the company in a research note on Thursday, May 16th. TD Cowen dropped their price objective on Accenture from $294.00 to $293.00 and set a hold rating for the company in a research note on Friday. Piper Sandler Companies dropped their price objective on Accenture from $379.00 to $320.00 and set a neutral rating for the company in a research note on Monday, June 17th. Finally, Royal Bank of Canada lifted their price objective on Accenture from $374.00 to $381.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $358.09.

Accenture Trading Up 0.9 %

Shares of ACN opened at $308.98 on Monday. Accenture has a twelve month low of $278.69 and a twelve month high of $387.51. The stock’s 50 day moving average is $301.15 and its two-hundred day moving average is $337.29. The firm has a market capitalization of $207.25 billion, a PE ratio of 28.29, a P/E/G ratio of 3.35 and a beta of 1.21.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). The firm had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. Accenture’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $3.19 EPS. On average, sell-side analysts predict that Accenture will post 12 EPS for the current year.

Accenture Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is 47.25%.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at approximately $4,208,606.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is owned by corporate insiders.

About Accenture

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.