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Accenture (ACN) Gains As Market Dips: What You Should Know
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Accenture (ACN - Free Report) closed the most recent trading day at $269.63, moving +0.18% from the previous trading session. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Heading into today, shares of the consulting company had lost 2.08% over the past month, lagging the Business Services sector's loss of 0.66% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from Accenture as it approaches its next earnings release, which is expected to be March 23, 2023. In that report, analysts expect Accenture to post earnings of $2.48 per share. This would mark a year-over-year decline of 2.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.52 billion, up 3.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.45 per share and revenue of $64.25 billion, which would represent changes of +6.91% and +4.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Accenture. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Accenture is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 23.51. For comparison, its industry has an average Forward P/E of 21.25, which means Accenture is trading at a premium to the group.
Investors should also note that ACN has a PEG ratio of 2.48 right now. 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. ACN's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Accenture (ACN) Gains As Market Dips: What You Should Know
Accenture (ACN - Free Report) closed the most recent trading day at $269.63, moving +0.18% from the previous trading session. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Heading into today, shares of the consulting company had lost 2.08% over the past month, lagging the Business Services sector's loss of 0.66% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from Accenture as it approaches its next earnings release, which is expected to be March 23, 2023. In that report, analysts expect Accenture to post earnings of $2.48 per share. This would mark a year-over-year decline of 2.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.52 billion, up 3.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.45 per share and revenue of $64.25 billion, which would represent changes of +6.91% and +4.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Accenture. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Accenture is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Accenture's current valuation metrics, including its Forward P/E ratio of 23.51. For comparison, its industry has an average Forward P/E of 21.25, which means Accenture is trading at a premium to the group.
Investors should also note that ACN has a PEG ratio of 2.48 right now. 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. ACN's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.