logo
Plus   Neg
Share
Email

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

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT