Accenture: stock down on weak forecasts, broker cautious
(CercleFinance.com) - Accenture shares closed down almost 1% at about 260 dollars in New York on Friday, after the consulting giant announced lower-than-expected forecasts for its new fiscal year.
Jefferies therefore confirms its 'hold' rating on the stock with reduced target price of 290 dollars (from 310 dollars).
Accenture said its Q4 net profit (to 31 August) was 1.69 billion dollars, compared with 1.44 billion dollars a year ago. For the new fiscal year, the US group said it expects EPS of $11.09 to $11.41, below the consensus of $12 per share.
Jefferies largely attributes this $0.74 (-6%) reduction in its 2023 adjusted EPS estimate to 11.40 dollars to higher-than-expected FX headwinds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Jefferies therefore confirms its 'hold' rating on the stock with reduced target price of 290 dollars (from 310 dollars).
Accenture said its Q4 net profit (to 31 August) was 1.69 billion dollars, compared with 1.44 billion dollars a year ago. For the new fiscal year, the US group said it expects EPS of $11.09 to $11.41, below the consensus of $12 per share.
Jefferies largely attributes this $0.74 (-6%) reduction in its 2023 adjusted EPS estimate to 11.40 dollars to higher-than-expected FX headwinds.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.