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Why Accenture (ACN) Dipped More Than Broader Market Today
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In the latest trading session, Accenture (ACN - Free Report) closed at $249.95, marking a -1.46% move from the previous day. This change lagged the S&P 500's daily loss of 0.35%. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.39%.
Shares of the consulting company have appreciated by 18% over the course of the past month, outperforming the Computer and Technology sector's loss of 11.8%, and the S&P 500's loss of 2.42%.
The investment community will be paying close attention to the earnings performance of Accenture in its upcoming release. On that day, Accenture is projected to report earnings of $3.9 per share, which would represent a year-over-year decline of 1.02%. At the same time, our most recent consensus estimate is projecting a revenue of $19.35 billion, reflecting a 3.22% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.68 per share and a revenue of $77.33 billion, indicating changes of +5.08% and +4.24%, respectively, from the former year.
It is also important to note the 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 business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Accenture presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Accenture is presently being traded at a Forward P/E ratio of 17.27. This valuation marks a premium compared to its industry average Forward P/E of 15.57.
We can additionally observe that ACN currently boasts a PEG ratio of 1.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Computers - IT Services industry held an average PEG ratio of 1.28.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Why Accenture (ACN) Dipped More Than Broader Market Today
In the latest trading session, Accenture (ACN - Free Report) closed at $249.95, marking a -1.46% move from the previous day. This change lagged the S&P 500's daily loss of 0.35%. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.39%.
Shares of the consulting company have appreciated by 18% over the course of the past month, outperforming the Computer and Technology sector's loss of 11.8%, and the S&P 500's loss of 2.42%.
The investment community will be paying close attention to the earnings performance of Accenture in its upcoming release. On that day, Accenture is projected to report earnings of $3.9 per share, which would represent a year-over-year decline of 1.02%. At the same time, our most recent consensus estimate is projecting a revenue of $19.35 billion, reflecting a 3.22% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.68 per share and a revenue of $77.33 billion, indicating changes of +5.08% and +4.24%, respectively, from the former year.
It is also important to note the 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 business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Accenture presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Accenture is presently being traded at a Forward P/E ratio of 17.27. This valuation marks a premium compared to its industry average Forward P/E of 15.57.
We can additionally observe that ACN currently boasts a PEG ratio of 1.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Computers - IT Services industry held an average PEG ratio of 1.28.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.