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Is Accenture (ACN) A Buy Heading into Q4 Earnings Announcement?
Well-known consulting company Accenture (ACN - Free Report) is set to report fiscal Q4 earnings results on Friday before the closing bell. Accenture, a Zacks Rank #3 (Hold), has posted an earnings beat in three of the past four quarters. But with market volatility returning over the past few weeks, is ACN a buy?
The well-known consulting firm is expected to post a profit of $2.91/share, which would reflect 4.68% growth versus the same quarter last year. Sales are projected to climb 4.12% to $15.58 billion.
ACN has beaten earnings estimates in three of the past four quarters, with an average EPS surprise of 3.29% over that timeframe. The company is part of the Zacks Consulting Services industry, which currently ranks in the top 16% out of all Zacks Ranked Industries.
A +0.95% Earnings ESP (Expected Surprise Prediction) points to another potential earnings beat for the quarter.
Update: ACN came out with quarterly earnings of $3.08/share on $15.75 billion in revenues, beating estimates on both the top and bottom lines. The stock is off about -2% premarket.