Stock Update (NYSE:ACN): Here’s One Reason Accenture (ACN) Stock Is Declining Today

[at TheStreet] – Shares of Accenture (ACN) are falling after the company’s stock was downgraded at Credit Suisse. Read more on this. Accenture plc (ACN) , with a current value of $69.41B, began trading this morning at $111.43. Looking at the equity, the company’s one day range is $111.42 to $114.90 and has traded between $88.43 and $120.78 over the past year. Priced at 22.31x this year’s forecasted earnings, ACN shares are relatively expensive compared to the industry’s 2.21x forward p/e ratio. And for passive income investors, the company pays shareholders $2.20 per share annually in dividends, yielding 1.84%. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $1.30 per share, which would be $0.15 better than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $5.33 is a $0.51 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $8.41 Billion. If realized, that would be a 6.59% increase over the year-ago quarter. More recently, Credit Suisse downgraded ACN from Outperform to Neutral (Jun 24, 2016). Previously, Cantor Fitzgerald Initiated ACN at to Buy. The average price target for ACN shares by the analysts covering the stock is $122.27, which is 9.73% above where the stock opened this morning. See more in (NYSE:ACN) Similar Articles: Stock Update: Accenture plc (NYSE:ACN) – Accenture (ACN) Stock Up on Second Quarter Earnings Company Update: Accenture plc (NYSE:ACN) – Accenture Survives Software Sag Of ’16; Stock Flirts With Record Stock Update: Accenture plc (NYSE:ACN) – Investment in On-Demand Healthcare to Reach $1 Billion in 2017, Accenture Finds