logo
  

Stock Alert: Accenture Touches New 52-week High After Q3 Results

Shares of Accenture plc (ACN) are rising than 7 percent or $15.16 in Thursday's morning trade at $217.00, after touching a new 52-week high of $217.86 earlier as the consulting, technology and outsourcing services provider's first-quarter financial results beat analysts' estimates.

Thursday, Accenture reported net income for the third quarter of $1.23 billion or $1.90 per share, down from $1.25 billion or $1.93 per share in the year-ago quarter. On average, analysts polled by Thomson Reuters expected the company to earn lesser earnings of $1.85 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined 1 percent to $10.99 billion from $11.10 billion last year, but better than the Street estimate of $10.87 billion.

For fiscal 2020, Accenture now expects better earnings in the range of $7.57 to $7.70 per share on revenue growth of 3.5 to 4.5 percent in local currency. This compares with its earlier view of $7.48 to $7.70 per share on revenue growth of 3 to 6 percent in local currency.

Accenture also declared a 10 percent higher quarterly cash dividend of $0.80 per share, payable on August 14 to shareholders of record on July 16.

The stock has traded in a range of $137.15 to $217.86 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Invest in the Best Pharma Stocks by Subscribing to RTT Biotech Investor.
Editors Pick
American Airlines canceled hundreds of flights this weekend and plans to cut more through at least mid-July due to bad weather and staffing shortages, multiple reports said. The shortage of flights come as demand is increasing heavily in the United States with reducing coronavirus cases benefited mainly by increased vaccination. Chinese HR firm 51job, Inc. (JOBS) announced Monday that it has entered into a definitive Agreement and Plan of Merger with Garnet Faith Limited, pursuant to which, and subject to the terms and conditions thereof, Garnet Faith will merge with and into 51job, with 51job being the surviving company, in... Priceline, affiliated to Booking Holdings Inc., is launching Fourth of July Freedom sale with bigger savings on flights, hotels and rental cars for the upcoming summer travel season. The company, which offers exclusive discounts on hotels, flights, alternative accommodations, rental cars, cruises and packages, said the two-week Freedom Sale will feature special discounts and promotions.
Follow RTT