Barclays Maintains an 'Overweight' on Accenture plc (ACN); CIO Checks, Industry Trends Suggest Solid 4Q11; FY12 Guidance Reasonable
Tweet
Share
E-mailGet Alerts ACN Hot Sheet
Price: $316.00 +0.46%
Rating Summary:
25 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
25 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Accenture plc (NYSE: ACN) price target of $61.00.
Barclays analyst says, "Results from our recent CIO survey point to favorable current trends and market share gains for ACN, and we expect a solid 4Q11 result. Given conservatism around challenges in the public sector and a slight reduction in our expectation for FX benefits in 4Q11 (still rounding up to company guidance of 3% currency benefit for the full year), our FY 2011 estimates for total reported revenue and EPS remain in the center of the guidance range, with local currency growth remaining at the high end of guidance. We continue to believe operating margin guidance is conservative and may present upside. Beyond revenue and earnings trends, we will look for consulting bookings to normalize after last quarter's discussed timing issue."
"Looking to 2012, recent business confidence indicators we track for Accenture have clearly softened in recent months given macro uncertainty. However, while we believe these data points make ACN's growth expectations less conservative than they were (we reduced our constant currency growth estimate to 8.5% from 9.5%, and EPS from $3.85 to $3.82), we continue to consider 7-10% local currency growth in FY 2012 reasonable and consistent at this time."
For more ratings news on Accenture plc click here and for the rating history of Accenture plc click here.
Shares of Accenture plc closed at $54.60 yesterday.
Barclays analyst says, "Results from our recent CIO survey point to favorable current trends and market share gains for ACN, and we expect a solid 4Q11 result. Given conservatism around challenges in the public sector and a slight reduction in our expectation for FX benefits in 4Q11 (still rounding up to company guidance of 3% currency benefit for the full year), our FY 2011 estimates for total reported revenue and EPS remain in the center of the guidance range, with local currency growth remaining at the high end of guidance. We continue to believe operating margin guidance is conservative and may present upside. Beyond revenue and earnings trends, we will look for consulting bookings to normalize after last quarter's discussed timing issue."
"Looking to 2012, recent business confidence indicators we track for Accenture have clearly softened in recent months given macro uncertainty. However, while we believe these data points make ACN's growth expectations less conservative than they were (we reduced our constant currency growth estimate to 8.5% from 9.5%, and EPS from $3.85 to $3.82), we continue to consider 7-10% local currency growth in FY 2012 reasonable and consistent at this time."
For more ratings news on Accenture plc click here and for the rating history of Accenture plc click here.
Shares of Accenture plc closed at $54.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BayCom Corp (BCML) Misses Q1 EPS by 4c
- Rubrik IPO: 5 key things to know
- Southern First Bancshares, Inc. (SFST) Misses Q1 EPS by 8c
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
