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Accenture (ACN) Declines More Than Market: Some Information for Investors
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The most recent trading session ended with Accenture (ACN - Free Report) standing at $378.72, reflecting a -0.46% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.
The the stock of consulting company has risen by 4.87% in the past month, leading the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.18%.
Market participants will be closely following the financial results of Accenture in its upcoming release. The company plans to announce its earnings on March 21, 2024. The company's upcoming EPS is projected at $2.65, signifying a 1.49% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.84 billion, up 0.15% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.21 per share and a revenue of $66.18 billion, representing changes of +4.63% and +3.23%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% lower. Right now, Accenture possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Accenture is presently trading at a Forward P/E ratio of 31.16. Its industry sports an average Forward P/E of 23.94, so one might conclude that Accenture is trading at a premium comparatively.
Meanwhile, ACN's PEG ratio is currently 3.53. 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 was holding an average PEG ratio of 1.35 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Accenture (ACN) Declines More Than Market: Some Information for Investors
The most recent trading session ended with Accenture (ACN - Free Report) standing at $378.72, reflecting a -0.46% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.
The the stock of consulting company has risen by 4.87% in the past month, leading the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.18%.
Market participants will be closely following the financial results of Accenture in its upcoming release. The company plans to announce its earnings on March 21, 2024. The company's upcoming EPS is projected at $2.65, signifying a 1.49% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.84 billion, up 0.15% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.21 per share and a revenue of $66.18 billion, representing changes of +4.63% and +3.23%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% lower. Right now, Accenture possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Accenture is presently trading at a Forward P/E ratio of 31.16. Its industry sports an average Forward P/E of 23.94, so one might conclude that Accenture is trading at a premium comparatively.
Meanwhile, ACN's PEG ratio is currently 3.53. 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 was holding an average PEG ratio of 1.35 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.