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Accenture (ACN) Stock Declines While Market Improves: Some Information for Investors

Accenture (ACN) closed at $360.91 in the latest trading session, marking a -0.56% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.13% for the day. Elsewhere, the Dow saw an upswing of 0.13%, while the tech-heavy Nasdaq depreciated by 0.32%.

Heading into today, shares of the consulting company had lost 1.87% over the past month, lagging the Business Services sector's gain of 5.03% and the S&P 500's gain of 2.99% in that time.

The investment community will be closely monitoring the performance of Accenture in its forthcoming earnings report. The company is scheduled to release its earnings on March 21, 2024. In that report, analysts expect Accenture to post earnings of $2.65 per share. This would mark a year-over-year decline of 1.49%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.84 billion, up 0.15% from the year-ago period.

ACN's full-year Zacks Consensus Estimates are calling for earnings of $12.22 per share and revenue of $66.22 billion. These results would represent year-over-year changes of +4.71% and +3.29%, respectively.

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Investors might also notice recent changes to analyst estimates for Accenture. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Accenture presently features a Zacks Rank of #3 (Hold).

With respect to valuation, Accenture is currently being traded at a Forward P/E ratio of 29.71. Its industry sports an average Forward P/E of 21.42, so one might conclude that Accenture is trading at a premium comparatively.

It's also important to note that ACN currently trades at a PEG ratio of 3.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Consulting Services industry stood at 1.33 at the close of the market yesterday.

The Consulting Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 193, this industry ranks in the bottom 24% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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