In the latest trading session, Accenture (ACN) closed at $191.43, marking a +0.72% move from the previous day. This move outpaced the S&P 500's daily gain of 0.16%. At the same time, the Dow 0%, and the tech-heavy Nasdaq gained 0.26%.
Prior to today's trading, shares of the consulting company had gained 2.46% over the past month. This has outpaced the Business Services sector's gain of 0.21% and lagged the S&P 500's gain of 4.12% in that time.
Wall Street will be looking for positivity from ACN as it approaches its next earnings report date. The company is expected to report EPS of $2, up 2.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.14 billion, up 5.01% from the year-ago period.
ACN's full-year Zacks Consensus Estimates are calling for earnings of $7.78 per share and revenue of $45.87 billion. These results would represent year-over-year changes of +5.71% and +6.14%, respectively.
Investors should also note any recent changes to analyst estimates for ACN. 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ACN is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, ACN currently has a Forward P/E ratio of 24.43. Its industry sports an average Forward P/E of 17.84, so we one might conclude that ACN is trading at a premium comparatively.
We can also see that ACN currently has a PEG ratio of 2.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Consulting Services was holding an average PEG ratio of 1.32 at yesterday's closing price.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 14, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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