Accenture Analysts Cut Their Forecasts After Q4 Results
Portfolio Pulse from Lisa Levin
Accenture plc reported mixed Q4 results and issued weak FY24 adjusted EPS guidance. The company's quarterly revenue growth was 4% Y/Y to $15.98 billion, missing the consensus of $16.07 billion. Adjusted EPS of $2.71 beat the consensus of $2.66. Accenture expects FY24 revenue growth of 2%-5% in local currency and adjusted EPS of $11.97-$12.32 vs. consensus of $12.46. Following the earnings announcement, several analysts cut their price targets on Accenture.
September 29, 2023 | 6:28 pm
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NEGATIVE IMPACT
Accenture's mixed Q4 results and weak FY24 EPS guidance led to several analysts cutting their price targets on the company. This could potentially impact the company's stock price in the short term.
Accenture's lower than expected Q4 revenue and weak FY24 EPS guidance are negative indicators for the company's financial performance. This has led to several analysts cutting their price targets on the company, which could potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100