Yahoo Finance Accenture (ACN) Outpaces Stock Market Gains: What You Should Know
Accenture (ACN) closed at $284.63 in the latest trading session, marking a +1.95% move from the prior day. This move outpaced the S&P 500's daily gain of 1.19%. Elsewhere, the Dow gained 1.24%, while the tech-heavy Nasdaq added 8.36%.
Coming into today, shares of the consulting company had lost 0.28% in the past month. In that same time, the Business Services sector gained 1.23%, while the S&P 500 lost 0.54%.
Accenture will be looking to display strength as it nears its next earnings release, which is expected to be June 22, 2023. The company is expected to report EPS of $2.94, up 5.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.45 billion, up 1.82% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.57 per share and revenue of $64.33 billion, which would represent changes of +8.03% and +4.44%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Accenture. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Accenture is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Accenture is holding a Forward P/E ratio of 24.13. This represents a premium compared to its industry's average Forward P/E of 20.41.
Meanwhile, ACN's PEG ratio is currently 2.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ACN's industry had an average PEG ratio of 1.54 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Accenture PLC (ACN) : Free Stock Analysis Report
