We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Accenture (ACN) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Accenture (ACN - Free Report) closed at $320.91, marking a +0.67% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Prior to today's trading, shares of the consulting company had gained 1.02% over the past month. This has outpaced the Business Services sector's loss of 3.44% and the S&P 500's loss of 3.37% in that time.
Accenture will be looking to display strength as it nears its next earnings release, which is expected to be September 28, 2023. The company is expected to report EPS of $2.63, up 1.15% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.06 billion, up 4.1% from the prior-year quarter.
ACN's full-year Zacks Consensus Estimates are calling for earnings of $11.59 per share and revenue of $64.18 billion. These results would represent year-over-year changes of +8.22% and +4.2%, respectively.
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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.06% higher. Accenture currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 27.5. This valuation marks a premium compared to its industry's average Forward P/E of 22.32.
We can also see that ACN currently has a PEG ratio of 2.89. 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. The Consulting Services was holding an average PEG ratio of 1.66 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Accenture (ACN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Accenture (ACN - Free Report) closed at $320.91, marking a +0.67% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Prior to today's trading, shares of the consulting company had gained 1.02% over the past month. This has outpaced the Business Services sector's loss of 3.44% and the S&P 500's loss of 3.37% in that time.
Accenture will be looking to display strength as it nears its next earnings release, which is expected to be September 28, 2023. The company is expected to report EPS of $2.63, up 1.15% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.06 billion, up 4.1% from the prior-year quarter.
ACN's full-year Zacks Consensus Estimates are calling for earnings of $11.59 per share and revenue of $64.18 billion. These results would represent year-over-year changes of +8.22% and +4.2%, respectively.
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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.06% higher. Accenture currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 27.5. This valuation marks a premium compared to its industry's average Forward P/E of 22.32.
We can also see that ACN currently has a PEG ratio of 2.89. 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. The Consulting Services was holding an average PEG ratio of 1.66 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.