Accenture plc (NYSE:ACN) Released Earnings Last Week And Analysts Lifted Their Price Target To US$220

埃森哲公司(纽约证券交易所代码:ACN)上周公布财报,分析师将目标价上调至220美元

2020/06/27 12:03  Simply Wall St.

Investors in Accenture plc (NYSE:ACN) had a good week, as its shares rose 5.4% to close at US$212 following the release of its quarterly results. Accenture reported US$11b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$1.90 beat expectations, being 3.2% higher than what the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

See our latest analysis for Accenture

After the latest results, the 26 analysts covering Accenture are now predicting revenues of US$46.4b in 2021. If met, this would reflect a credible 4.1% improvement in sales compared to the last 12 months. Per-share earnings are expected to accumulate 4.1% to US$8.10. In the lead-up to this report, the analysts had been modelling revenues of US$46.5b and earnings per share (EPS) of US$8.10 in 2021. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

The consensus price target rose 10% to US$220 despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Accenture's earnings by assigning a price premium. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Accenture, with the most bullish analyst valuing it at US$250 and the most bearish at US$165 per share. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Accenture shareholders.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Accenture's past performance and to peers in the same industry. It's pretty clear that there is an expectation that Accenture's revenue growth will slow down substantially, with revenues next year expected to grow 4.1%, compared to a historical growth rate of 8.5% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 11% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Accenture.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting sales are tracking in line with expectations - although our data does suggest that Accenture's revenues are expected to perform worse than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.

With that in mind, we wouldn't be too quick to come to a conclusion on Accenture. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Accenture going out to 2024, and you cansee them free on our platform here..

We don't want to rain on the parade too much, but we did also find 1 warning sign for Accenture that you need to be mindful of.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, emaileditorial-team@simplywallst.com.

埃森哲公司(纽约证券交易所代码:ACN)的投资者本周表现不错,季度业绩公布后,该公司股价上涨5.4%,收于212美元。埃森哲公布的营收为110亿美元,与分析师预测大致一致,尽管法定每股收益(EPS)为1.9美元,超出预期,比分析师预期高出3.2%。对于投资者来说,这是一个重要的时刻,因为他们可以在公司的报告中跟踪公司的表现,看看专家们对明年的预测,以及对业务的预期是否有任何变化。我们收集了最新的法定预测,看看分析师是否根据这些结果改变了他们的盈利模型。

查看我们对埃森哲的最新分析

在最新业绩公布后,追踪埃森哲的26位分析师现在预测,2021年营收将达到464亿美元。如果得到满足,这将反映出与过去12个月相比,销售额可靠地提高了4.1%。每股盈利料累计4.1%至8.10美元。在本报告发布之前,分析师一直在模拟2021年的收入为465亿美元,每股收益(EPS)为8.10美元。因此,很明显,尽管分析师们更新了他们的估计,但在最新业绩公布后,对该业务的预期并没有发生重大变化。

尽管盈利预期没有重大变化,但一致的目标价上涨了10%,至220美元。这可能是因为分析人员通过设定价格溢价来反映埃森哲收益的可预测性。看看分析师估计的范围,评估异常值与平均值的不同程度,也可能是有指导意义的。对埃森哲有一些不同的看法,最乐观的分析师对其估值为250美元,最悲观的分析师估值为每股165美元。分析师对这项业务肯定有不同的看法,但在我们看来,估计的差距还不够大,不足以表明埃森哲的股东可能会出现极端的结果。

这些估计很有趣,但当看到预测如何与埃森哲过去的业绩和同行业同行进行比较时,勾勒出一些更宽泛的笔触可能会很有用。很明显,人们预计埃森哲的营收增长将大幅放缓,明年营收预计将增长4.1%,而过去五年的历史增长率为8.5%。相比之下,该行业其他分析师覆盖的公司预计收入将以每年11%的速度增长。因此,很明显,虽然收入增长预计会放缓,但整个行业的增长速度预计也会快于埃森哲。

底线

最明显的结论是,近期该业务的前景没有重大变化,分析师们维持他们的收益预测不变,与之前的估计一致。幸运的是,分析师们还再次确认了他们的营收预估,表明销售额与预期相符-尽管我们的数据确实表明,埃森哲的营收预计将比更广泛的行业表现更差。我们注意到目标价的上调,这表明分析师认为,随着时间的推移,业务的内在价值可能会提高。

考虑到这一点,我们不会太快得出埃森哲的结论。长期盈利能力比明年的利润重要得多。在Simply Wall ST,我们有埃森哲到2024年的全方位分析师预测,你可以在我们的平台上免费看到这些预测。

我们不想在游行中下太多的雨,但我们也找到了埃森哲的一个警告标志,你需要注意。

简而言之,这篇由华尔街撰写的文章本质上是概括性的。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。简单地说,华尔街在提到的任何股票中都没有头寸。

对这篇文章有什么反馈吗?担心内容吗?请直接与我们联系。或者,通过电子邮件发送电子邮件至edit-team@simplywallst.com。

免责声明:中文翻译由腾讯翻译君提供支持,富途对翻译信息的准确性或可靠性所造成的任何损失不承担任何责任。

Copyright©2019 FUTU. All rights reserved. FUTU does not provide any investment advice.