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Accenture (ACN) Stock Dips While Market Gains: Key Facts
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Accenture (ACN - Free Report) closed at $313.09 in the latest trading session, marking a -0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.18%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the consulting company had gained 0.42% over the past month, lagging the Business Services sector's gain of 2.75% and the S&P 500's gain of 3.08% in that time.
The investment community will be closely monitoring the performance of Accenture in its forthcoming earnings report. The company is scheduled to release its earnings on December 19, 2023. The company is forecasted to report an EPS of $3.11, showcasing a 0.97% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.23 billion, indicating a 3.07% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.10 per share and a revenue of $66.56 billion, representing changes of +3.68% and +3.81%, respectively, from the prior year.
Any recent changes to analyst estimates for Accenture should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Right now, Accenture possesses a Zacks Rank of #3 (Hold).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 25.9. This indicates a premium in contrast to its industry's Forward P/E of 21.66.
We can also see that ACN currently has a PEG ratio of 2.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Consulting Services industry was having an average PEG ratio of 1.17.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ACN in the coming trading sessions, be sure to utilize Zacks.com.
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Accenture (ACN) Stock Dips While Market Gains: Key Facts
Accenture (ACN - Free Report) closed at $313.09 in the latest trading session, marking a -0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.18%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the consulting company had gained 0.42% over the past month, lagging the Business Services sector's gain of 2.75% and the S&P 500's gain of 3.08% in that time.
The investment community will be closely monitoring the performance of Accenture in its forthcoming earnings report. The company is scheduled to release its earnings on December 19, 2023. The company is forecasted to report an EPS of $3.11, showcasing a 0.97% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.23 billion, indicating a 3.07% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.10 per share and a revenue of $66.56 billion, representing changes of +3.68% and +3.81%, respectively, from the prior year.
Any recent changes to analyst estimates for Accenture should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Right now, Accenture possesses a Zacks Rank of #3 (Hold).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 25.9. This indicates a premium in contrast to its industry's Forward P/E of 21.66.
We can also see that ACN currently has a PEG ratio of 2.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Consulting Services industry was having an average PEG ratio of 1.17.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ACN in the coming trading sessions, be sure to utilize Zacks.com.