27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Accenture Plc (NYSE:ACN) on Thursday reported fiscal third-quarter results, which came in better than expected with a positive revision to 2019 guidance.
The Analysts
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Citi's Ashwin Shirvaikar maintains a Buy rating on Accenture with a $211 price target.
BMO Capital Markets' Keith Bachman maintains at Market Perform, with a price target lifted from $185 to $195.
Citi: 'Good Headlines'
Accenture's "good headlines" report was accompanied with the "customary" upward revision to guidance, Shirvaikar wrote in a note. The report showed improvements in prior soft segments like European banking/capital markets and U.S. federal.
Other positive readouts from the report include robust demand for "The New" business, the overall demand environment remains positive based on management's commentary and cash flow was "solid."
A couple negative readouts include contraction in the European financial services continues to contract and attrition moved higher.
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BMO: 'Mostly Steady'
Accenture's report was "mostly steady" highlighted by 3.8% year-over-year increase in revenue while weak signings could be a function of timing and not demand issues in the company's pipeline, Bachman wrote in a note. Signings is a "lumpy" metric, especially in the outsourcing universe and it is possible for the fiscal fourth quarter to show "strong" signings.
It's likely investors "wanted more" from the report, but Bachman said it was still a "net positive" quarter. Accenture remains well positioned to grow signings in the coming quarters given its best-in-class status within a heavily competitive environment.
Price Action
Shares of Accenture traded around $183.91 at time of publication.
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Photo credit: Michael Gray, Flickr
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.