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Q4 Expectations
Analysts Michael Briest and Tal Grant expect Accenture to deliver sales revenue of $8.559 billion, which is better than the guided sales range of $8.25 billion–$8.5 billion for the fourth quarter. Similarly, they estimate EPS of $1.31 compared to the forecast of $1.26–$1.30. However, Street analysts expect the company to earn $1.30 a share on $8.43 billion revenue.
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The company's EPS topped estimates in three of the last four quarters and failed to meet expectations in one quarter. There has been no change in consensus EPS estimates of $1.30 for the fourth quarter.
Conservative Forecast
The brokerage pointed out that history suggests Accenture will guide conservatively for fiscal year 2017. For instance, the company guided 5–8 percent constant currency growth at the start of the fiscal year 2016. The same was increased to 9.5–10.5 percent when the company reported third quarter results. 2014 was much the same.
"With acquisitions (already closed and anticipated) likely to add c200bp, a 6–9 percent or even 7–10 percent range seems plausible to us (cons. +7 percent to $35,014 million; UBSe +7 percent to $35,089 million). We are modelling just 10bp of margin expansion (cons. +20bp to 14.8 percent), although a 10–30bp range is likely," the analysts wrote in a note to clients.
The brokerage maintains its Neutral rating and target price of $115.
The stock traded at $111.67, up 0.88 percent at time of writing.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.