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Accenture (ACN) Gains But Lags Market: What You Should Know
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Accenture (ACN - Free Report) closed the most recent trading day at $325.87, moving +0.12% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Coming into today, shares of the consulting company had gained 5.31% in the past month. In that same time, the Business Services sector lost 0.98%, while the S&P 500 lost 0.73%.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be September 28, 2023. On that day, Accenture is projected to report earnings of $2.63 per share, which would represent year-over-year growth of 1.15%. Meanwhile, our latest consensus estimate is calling for revenue of $16.06 billion, up 4.1% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Accenture is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 26.32. This represents a premium compared to its industry's average Forward P/E of 22.1.
We can also see that ACN currently has a PEG ratio of 2.77. 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 1.41 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 106, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Accenture (ACN) Gains But Lags Market: What You Should Know
Accenture (ACN - Free Report) closed the most recent trading day at $325.87, moving +0.12% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Coming into today, shares of the consulting company had gained 5.31% in the past month. In that same time, the Business Services sector lost 0.98%, while the S&P 500 lost 0.73%.
Wall Street will be looking for positivity from Accenture as it approaches its next earnings report date. This is expected to be September 28, 2023. On that day, Accenture is projected to report earnings of $2.63 per share, which would represent year-over-year growth of 1.15%. Meanwhile, our latest consensus estimate is calling for revenue of $16.06 billion, up 4.1% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Accenture is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 26.32. This represents a premium compared to its industry's average Forward P/E of 22.1.
We can also see that ACN currently has a PEG ratio of 2.77. 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 1.41 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 106, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.