Accenture plc (ACN - Free Report) is one of world’s leading providers of management consultancy, technology and outsourcing services. The company is steadily gaining traction in its outsourcing business primarily backed by a rise in demand for technology to improve operating efficiencies and save costs.
Furthermore, considering the growing need for digital marketing, we commend Accenture’s efforts to enhance its digital marketing capabilities through acquisitions which should positively impact third-quarter results.
However, increasing competition from Cognizant Technology Solutions and International Business Machines may temper its growth prospects to some extent. Additionally, Accenture’s broad European exposure and a cautious spending environment are likely to have a negative impact on the to-be-reported quarter results. Due to this, investors are eagerly awaiting Accenture’ earnings report in order to set the record straight and to give some guidance on where this company is heading.
This is especially true given the recent earnings estimate revisions for Accenture as the consensus estimate has been going lower. However, Accenture does have decent history when it comes to recent earnings reports as the stock has beaten estimates thrice in the last four quarters, making for an average positive surprise of approximately 5.58%.
Currently, Accenture has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Accenture beats on earnings. Our consensus called for EPS of $1.40 per share, and the company reported EPS of $1.41 per share.
Revenue: Revenues surpassed. Accenture posted revenues of $8.969 billion, compared to our consensus estimate of $8.246 billion.
Key Stats: The company witnessed year over year growth in revenue, primarily aided by an increase in Consulting revenues.
4Q16 Outlook: For 4Q16, Accenture expects revenue to be in the range of $8.25 billion to $8.50 billion.
Check back later for our full write up on this Accenture earnings report later!
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Accenture plc (ACN - Free Report) is one of world’s leading providers of management consultancy, technology and outsourcing services. The company is steadily gaining traction in its outsourcing business primarily backed by a rise in demand for technology to improve operating efficiencies and save costs.
Furthermore, considering the growing need for digital marketing, we commend Accenture’s efforts to enhance its digital marketing capabilities through acquisitions which should positively impact third-quarter results.
However, increasing competition from Cognizant Technology Solutions and International Business Machines may temper its growth prospects to some extent. Additionally, Accenture’s broad European exposure and a cautious spending environment are likely to have a negative impact on the to-be-reported quarter results. Due to this, investors are eagerly awaiting Accenture’ earnings report in order to set the record straight and to give some guidance on where this company is heading.
This is especially true given the recent earnings estimate revisions for Accenture as the consensus estimate has been going lower. However, Accenture does have decent history when it comes to recent earnings reports as the stock has beaten estimates thrice in the last four quarters, making for an average positive surprise of approximately 5.58%.
Currently, Accenture has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Accenture beats on earnings. Our consensus called for EPS of $1.40 per share, and the company reported EPS of $1.41 per share.
Revenue: Revenues surpassed. Accenture posted revenues of $8.969 billion, compared to our consensus estimate of $8.246 billion.
Key Stats: The company witnessed year over year growth in revenue, primarily aided by an increase in Consulting revenues.
4Q16 Outlook: For 4Q16, Accenture expects revenue to be in the range of $8.25 billion to $8.50 billion.
Check back later for our full write up on this Accenture earnings report later!
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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