These Analysts Revise Their Forecasts On Accenture After Q2 Results
Portfolio Pulse from Avi Kapoor
Accenture Plc (NYSE:ACN) reported mixed Q2 fiscal 2024 results with sales of $15.80 billion, slightly missing consensus but within guidance. Adjusted EPS of $2.77 beat consensus. The company adjusted its fiscal 2024 revenue growth forecast to 1%-3% and EPS to $11.97-$12.20, below consensus. Shares fell 2.2% following the announcement. Analysts from Mizuho, RBC Capital, TD Cowen, Morgan Stanley, BMO Capital, and Citigroup revised their price targets on Accenture.
March 22, 2024 | 7:07 pm
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Accenture reported mixed Q2 fiscal 2024 results, with a slight sales miss and an EPS beat. The company adjusted its fiscal 2024 forecasts, leading to a 2.2% drop in shares. Analysts have revised their price targets.
The mixed Q2 results and the adjustment of fiscal 2024 forecasts, particularly the lower revenue growth and EPS guidance below consensus, likely contributed to the negative market reaction, as reflected in the 2.2% drop in share price. Analysts' revisions of price targets, with most lowering their targets, further indicate a cautious outlook on the stock, potentially influencing short-term investor sentiment negatively.
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