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Accenture (ACN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Accenture (ACN - Free Report) closed at $326.16, marking a -0.48% move from the previous day. This change lagged the S&P 500's 0.42% loss on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the consulting company had gained 3.76% over the past month. This has outpaced the Business Services sector's gain of 1.77% and the S&P 500's gain of 1.02% in that time.
Investors will be hoping for strength from Accenture as it approaches 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. Our most recent consensus estimate is calling for quarterly revenue of $16.06 billion, up 4.1% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Accenture. These recent revisions tend to reflect the evolving nature of short-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. The Zacks Consensus EPS estimate remained stagnant within the past month. Accenture is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 26.51. For comparison, its industry has an average Forward P/E of 22.94, which means Accenture is trading at a premium to the group.
It is also worth noting that ACN currently has a PEG ratio of 2.79. 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. The Consulting Services was holding an average PEG ratio of 1.41 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.
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Accenture (ACN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Accenture (ACN - Free Report) closed at $326.16, marking a -0.48% move from the previous day. This change lagged the S&P 500's 0.42% loss on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the consulting company had gained 3.76% over the past month. This has outpaced the Business Services sector's gain of 1.77% and the S&P 500's gain of 1.02% in that time.
Investors will be hoping for strength from Accenture as it approaches 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. Our most recent consensus estimate is calling for quarterly revenue of $16.06 billion, up 4.1% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Accenture. These recent revisions tend to reflect the evolving nature of short-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. The Zacks Consensus EPS estimate remained stagnant within the past month. Accenture is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Accenture is currently trading at a Forward P/E ratio of 26.51. For comparison, its industry has an average Forward P/E of 22.94, which means Accenture is trading at a premium to the group.
It is also worth noting that ACN currently has a PEG ratio of 2.79. 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. The Consulting Services was holding an average PEG ratio of 1.41 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.