Global professional services company Accenture (NYSE: ACN) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Accenture beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $17.73 billion, up 7.7% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but revenue guidance for next quarter meeting analysts’ expectations.
Is Accenture a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Accenture’s revenue to grow 5.9% year on year to $17.37 billion, improving from the 2.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.97 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Accenture has missed Wall Street’s revenue estimates three times over the last two years.
With Accenture being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for it services & other tech stocks. However, there has been positive investor sentiment in the segment, with share prices up 4.6% on average over the last month. Accenture is down 7.7% during the same time and is heading into earnings with an average analyst price target of $305.23 (compared to the current share price of $236.44).
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