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Accenture (ACN) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Accenture (ACN - Free Report) closed at $342.31, marking a +1.51% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw an upswing of 0.43%, while the tech-heavy Nasdaq appreciated by 0.2%.
Heading into today, shares of the consulting company had gained 5.49% over the past month, lagging the Business Services sector's gain of 7.86% and outpacing the S&P 500's gain of 5.28% in that time.
The investment community will be paying close attention to the earnings performance of Accenture in its upcoming release. The company is slated to reveal its earnings on December 19, 2023. The company is predicted to post an EPS of $3.14, indicating a 1.95% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.23 billion, indicating a 3.07% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.20 per share and revenue of $66.56 billion, indicating changes of +4.54% and +3.81%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Accenture. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Accenture presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Accenture is currently being traded at a Forward P/E ratio of 27.64. This expresses a premium compared to the average Forward P/E of 21.33 of its industry.
Investors should also note that ACN has a PEG ratio of 3.11 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Consulting Services industry had an average PEG ratio of 1.31 as trading concluded yesterday.
The Consulting Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Accenture (ACN) Outperforms Broader Market: What You Need to Know
In the latest trading session, Accenture (ACN - Free Report) closed at $342.31, marking a +1.51% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw an upswing of 0.43%, while the tech-heavy Nasdaq appreciated by 0.2%.
Heading into today, shares of the consulting company had gained 5.49% over the past month, lagging the Business Services sector's gain of 7.86% and outpacing the S&P 500's gain of 5.28% in that time.
The investment community will be paying close attention to the earnings performance of Accenture in its upcoming release. The company is slated to reveal its earnings on December 19, 2023. The company is predicted to post an EPS of $3.14, indicating a 1.95% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.23 billion, indicating a 3.07% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.20 per share and revenue of $66.56 billion, indicating changes of +4.54% and +3.81%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Accenture. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Accenture presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Accenture is currently being traded at a Forward P/E ratio of 27.64. This expresses a premium compared to the average Forward P/E of 21.33 of its industry.
Investors should also note that ACN has a PEG ratio of 3.11 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Consulting Services industry had an average PEG ratio of 1.31 as trading concluded yesterday.
The Consulting Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.