Accenture (NYSE:ACN) Issues FY24 Earnings Guidance

Accenture (NYSE:ACN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $11.85-12.00 for the period, compared to the consensus EPS estimate of $12.09. The company issued revenue guidance of +1.5-2.5% to $65.07-65.73 billion, compared to the consensus revenue estimate of $65.19 billion.

Accenture Trading Down 0.1 %

NYSE ACN opened at $285.35 on Thursday. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51. The company has a market capitalization of $191.40 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 3.11 and a beta of 1.21. The firm’s fifty day simple moving average is $301.66 and its 200-day simple moving average is $337.67.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.01). Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same period last year, the company posted $3.19 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, analysts predict that Accenture will post 12.06 EPS for the current year.

Analysts Set New Price Targets

ACN has been the topic of several analyst reports. Susquehanna reissued a neutral rating and set a $360.00 target price (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Piper Sandler Companies lowered their target price on shares of Accenture from $379.00 to $320.00 and set a neutral rating on the stock in a research report on Monday. Guggenheim reissued a buy rating and set a $395.00 target price on shares of Accenture in a research report on Friday, May 24th. Robert W. Baird decreased their price target on shares of Accenture from $372.00 to $345.00 and set a neutral rating for the company in a report on Thursday, May 16th. Finally, StockNews.com cut shares of Accenture from a buy rating to a hold rating in a report on Saturday, April 27th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $360.50.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares in the company, valued at $5,937,488.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Joel Unruch sold 4,333 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the completion of the sale, the general counsel now owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. Insiders sold a total of 28,083 shares of company stock worth $8,959,325 over the last quarter. Company insiders own 0.07% of the company’s stock.

About Accenture

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.