Accenture’s (ACN) Estimates Lowered
March 17, 2010 1:33 PM
Analysts George Price and Richard Eskelsen at Stifel Nicolaus have released an update on Accenture Plc (NYSE: ACN).
Analysts believe that the company’s FY10 revenue guidance faces some risk at the low end due to trends of smaller deal sizes and sluggish client decision making, weak recovery in Europe, from where it generates 46% of its revenue. However, analysts believe that demand for IT services is improving.
Analysts have lowered FY10 and FY11 revenue and EPS estimates. FY10 revenue estimate has been lowered from $21.9 billion to $21.3 billion, while FY11 revenue estimate has been lowered from $23 billion to $22.4 billion. FY10 EPS estimate has been lowered from $2.69 to $2.66, while FY11 EPS estimate has been lowered from $2.92 to $2.87.
Analysts at Stifel Nicolaus have maintained their Buy rating and $45 price target for Accenture Plc.
