Accenture (NYSE:ACN) Releases FY24 Earnings Guidance

Accenture (NYSE:ACN - Get Free Report) 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 Stock Performance

Shares of ACN traded up $20.81 during mid-day trading on Thursday, reaching $306.16. The company had a trading volume of 11,372,372 shares, compared to its average volume of 2,740,002. The firm has a 50-day moving average price of $301.27 and a 200 day moving average price of $337.45. Accenture has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a market capitalization of $205.35 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 3.11 and a beta of 1.21.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 the consensus estimate of $16.55 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts forecast that Accenture will post 12.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACN. Jefferies Financial Group decreased their price objective on shares of Accenture from $340.00 to $275.00 and set a hold rating for the company in a report on Wednesday, June 5th. Royal Bank of Canada boosted their price objective on shares of Accenture from $374.00 to $381.00 and gave the stock an outperform rating in a report on Friday, March 22nd. Morgan Stanley boosted their price objective on shares of Accenture from $400.00 to $417.00 and gave the stock an overweight rating in a report on Monday, March 18th. StockNews.com lowered Accenture from a buy rating to a hold rating in a research note on Saturday, April 27th. Finally, Robert W. Baird reduced their price objective on Accenture from $372.00 to $345.00 and set a neutral rating for the company in a research note on Thursday, May 16th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $360.50.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares of the company's stock, valued at approximately $4,208,606.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares of the company's stock, valued at approximately $51,045,053.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company's stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,083 shares of company stock valued at $8,959,325. Company insiders own 0.07% of the company's stock.

Accenture Company Profile

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.