Brokers Set Expectations for Accenture plc’s Q4 2024 Earnings (NYSE:ACN)
Accenture plc (NYSE:ACN – Get Rating) – Research analysts at Jefferies Financial Group upped their Q4 2024 EPS estimates for Accenture in a research report issued on Wednesday, April 12th. Jefferies Financial Group analyst S. Thind now forecasts that the information technology services provider will post earnings per share of $2.94 for the quarter, up from their prior forecast of $2.93. The consensus estimate for Accenture’s current full-year earnings is $11.57 per share.
Several other analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Accenture from $311.00 to $314.00 and gave the stock an “overweight” rating in a report on Friday, March 24th. Royal Bank of Canada upped their target price on Accenture from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, March 24th. Edward Jones raised Accenture from a “hold” rating to a “buy” rating in a report on Wednesday, April 5th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Citigroup lifted their price target on Accenture from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, March 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.00.
Accenture Price Performance
NYSE:ACN opened at $285.27 on Friday. The company has a market cap of $180.25 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.56 and a beta of 1.25. The firm’s fifty day moving average price is $272.95 and its two-hundred day moving average price is $274.65. Accenture has a one year low of $242.80 and a one year high of $330.32.
Accenture (NYSE:ACN – Get Rating) last released its quarterly earnings data on Thursday, March 23rd. The information technology services provider reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.20. Accenture had a net margin of 11.00% and a return on equity of 30.73%. The company had revenue of $15.81 billion for the quarter, compared to analyst estimates of $15.59 billion. During the same period in the previous year, the business earned $2.54 EPS. Accenture’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Hedge Funds Weigh In On Accenture
A number of large investors have recently bought and sold shares of ACN. Affiance Financial LLC purchased a new stake in Accenture in the fourth quarter worth $25,000. Tsfg LLC lifted its holdings in shares of Accenture by 108.7% during the third quarter. Tsfg LLC now owns 96 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. My Personal CFO LLC bought a new stake in shares of Accenture in the 4th quarter worth approximately $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Accenture in the 4th quarter worth approximately $27,000. Finally, EWG Elevate Inc. purchased a new position in Accenture during the fourth quarter valued at $32,000. 73.97% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Ellyn Shook sold 5,250 shares of Accenture stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $276.08, for a total transaction of $1,449,420.00. Following the completion of the sale, the insider now owns 34,444 shares in the company, valued at approximately $9,509,299.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Ellyn Shook sold 5,250 shares of the firm’s stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $276.08, for a total transaction of $1,449,420.00. Following the transaction, the insider now directly owns 34,444 shares of the company’s stock, valued at approximately $9,509,299.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 4,648 shares of the firm’s stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $276.41, for a total value of $1,284,753.68. Following the transaction, the chief executive officer now directly owns 39,510 shares in the company, valued at $10,920,959.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,454 shares of company stock worth $4,320,698. 0.08% of the stock is currently owned by insiders.
Accenture Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Thursday, April 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, April 12th. This represents a $4.48 annualized dividend and a yield of 1.57%. Accenture’s dividend payout ratio is currently 41.25%.
About Accenture
Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.
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