Wall Street analysts forecast that Accenture (ACN) will report quarterly earnings of $2.98 per share in its upcoming release, pointing to a year-over-year increase of 6.8%. It is anticipated that revenues will amount to $17.33 billion, exhibiting an increase of 5.6% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Accenture metrics that are commonly tracked and forecasted by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenues- Type of Work- Consulting' should arrive at $8.57 billion. The estimate indicates a year-over-year change of +3.8%.
The consensus among analysts is that 'Revenues- Type of Work- Managed Services' will reach $8.75 billion. The estimate suggests a change of +7.5% year over year.
The combined assessment of analysts suggests that 'Revenues- Industry Groups- Product' will likely reach $5.22 billion. The estimate points to a change of +5.4% from the year-ago quarter.
Analysts forecast 'Revenues- Industry Groups- Health & Public Service' to reach $3.77 billion. The estimate indicates a change of +4.2% from the prior-year quarter.
It is projected by analysts that the 'Revenues- Industry Groups- Financial services' will reach $3.06 billion. The estimate suggests a change of +6.6% year over year.
The average prediction of analysts places 'Revenues- Industry Groups- Communications, Media & Technology' at $2.86 billion. The estimate indicates a year-over-year change of +4.1%.
Analysts' assessment points toward 'Geographic Revenue- Americas' reaching $8.72 billion. The estimate indicates a year-over-year change of +9.4%.
According to the collective judgment of analysts, 'Geographic Revenue- Asia Pacific' should come in at $2.43 billion. The estimate indicates a year-over-year change of -13.3%.
The consensus estimate for 'Geographic Revenue- EMEA' stands at $6.11 billion. The estimate points to a change of +8.3% from the year-ago quarter.
Analysts predict that the 'New Bookings - Total' will reach $20.97 billion. The estimate is in contrast to the year-ago figure of $20.15 billion.
Analysts expect 'New Bookings - Managed Services' to come in at $12.02 billion. Compared to the present estimate, the company reported $11.55 billion in the same quarter last year.
The collective assessment of analysts points to an estimated 'New Bookings - Consulting' of $8.95 billion. Compared to the present estimate, the company reported $8.59 billion in the same quarter last year.
View all Key Company Metrics for Accenture here>>>
Over the past month, Accenture shares have recorded returns of -7.5% versus the Zacks S&P 500 composite's +4% change. Based on its Zacks Rank #3 (Hold), ACN will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Accenture PLC (ACN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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