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4-Traders Homepage  >  Equities  >  Nyse  >  Accenture    ACN   IE00B4BNMY34

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Accenture : acquisitions working, U.S. worries persist

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09/28/2017 | 04:55pm CET
FILE PHOTO: Visitors look at devices at Accenture stand at the Mobile World Congress in Barcelona

Accenture Plc's bets on digital and cloud service businesses are paying off, the consulting and outsourcing giant's results showed on Thursday, although it again warned of problems from political wrangling over Obamacare.

Accenture's quarterly revenue beat estimates and their forecast for growth in fiscal 2018 was in line with analysts' expectations, leaving the company's shares broadly flat.

Chief Executive Pierre Nanterme said on an earnings call that the outsourcing service provider had been seeing prolonged weakness in the North American market on lower client spending due to uncertainty surrounding proposals by Republicans to replace the Affordable Care Act.

Anticipation of certain reforms were creating "wait-and-see positioning" from their clients, he said.

The company forecast net revenue growth for the fiscal year 2018 to be in the range of 5 to 8 percent.

Analysts on average were expecting revenue of $37.26 billion (27.89 billion pounds), according to Thomson Reuters I/B/E/S, reflecting a near 7 percent growth rate from a year earlier.

The company's revenue from what it calls "the New" – digital, cloud and security-related services - grew about 30 percent to $18 billion for the year ended August 31 and accounted for about 50 percent of its total revenue.

In the past three years, the company has deployed about $3.4 billion in roughly 70 acquisitions, spending $1.7 billion in fiscal year 2017 alone, much of it on digital and cloud-related businesses.

"Over the next 2-3 years, Accenture should generate mid-high single digit constant currency revenue gains driven by sustainable, double-digit gains from "the New"," Evercore ISI analyst David Togut wrote in a client note.

The company's net revenue for the fourth quarter rose to $9.15 billion, beating estimates of $9.01 billion.

However, net income for diluted earnings per share fell to $974.2 million, or $1.48 per share, in the quarter ended August 31, from $1.12 billion, or $1.68 per share, a year earlier.

Analysts on an average were expecting $1.47 per share, according to Thomson Reuters I/B/E/S.

The company also forecast fiscal 2018 profit in the range of $6.36 and $6.60 per share but the mid-point of $6.48 was slightly below expectations of $6.50 per share.

Shares of Accenture fell as much as 3 percent in early trade but then pared losses to trade flat at $136.51 on Thursday. At Wednesday's close of $136.64, they had risen nearly 17 percent this year.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

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Financials ($)
Sales 2018 38 030 M
EBIT 2018 5 687 M
Net income 2018 4 259 M
Finance 2018 3 828 M
Yield 2018 1,81%
P/E ratio 2018 23,01
P/E ratio 2019 21,05
EV / Sales 2018 2,44x
EV / Sales 2019 2,29x
Capitalization 96 605 M
Duration : Period :
Accenture Technical Analysis Chart | ACN | IE00B4BNMY34 | 4-Traders
Technical analysis trends ACCENTURE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 148 $
Spread / Average Target -2,0%
EPS Revisions
Pierre Nanterme Chairman & Chief Executive Officer
Johan G. Deblaere COO & Chief Executive-Europe
David P. Rowland Chief Financial Officer
Paul Daugherty Chief Technology & Innovation Officer
Charles H. Giancarlo Independent Director
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