Yahoo Finance Accenture (ACN) Stock Moves 1.59%: What You Should Know
Accenture (ACN) closed the most recent trading day at $308.43, moving +1.59% from the previous trading session. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.
Heading into today, shares of the consulting company had gained 8.65% over the past month, outpacing the Business Services sector's gain of 1.13% and the S&P 500's gain of 1.03% in that time.
Investors will be hoping for strength from Accenture as it approaches its next earnings release, which is expected to be June 22, 2023. On that day, Accenture is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 5.38%. Our most recent consensus estimate is calling for quarterly revenue of $16.45 billion, up 1.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.57 per share and revenue of $64.33 billion. These totals would mark changes of +8.03% and +4.44%, respectively, from last year.
Any recent changes to analyst estimates for Accenture should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Accenture is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 26.24. This valuation marks a premium compared to its industry's average Forward P/E of 20.66.
Investors should also note that ACN has a PEG ratio of 2.76 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Consulting Services stocks are, on average, holding a PEG ratio of 1.56 based on yesterday's closing prices.
The Consulting Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Accenture PLC (ACN) : Free Stock Analysis Report
