BUZZ-PREVIEW: Accenture shares dip; results due early Thursday

Reuters
20 Mar
BUZZ-PREVIEW: Accenture shares dip; results due early Thursday

** Shares of Accenture ACN.N are down 0.5%, with the info tech services and management consulting co seen reporting a rise in rev and EPS in its qtrly results before the opening bell Thurs

** Analysts expect Q2 rev to rise to $16.62 bln from $15.80 bln a yr ago and co to post adj EPS of $2.82/shr vs $2.77 a yr ago, according to LSEG

** On December 19, Accenture forecast annual rev growth below Wall Street estimates, hurt by weak enterprise spending on IT services

** ACN and similar firms have been in focus amid worries that federal consulting contracts and projects will be lost in the drastic spending cuts being implemented by President Donald Trump's Department of Government Efficiency

** Analysts at Morgan Stanley, which on Mon lowered its PT on Accenture to $372 from $380, wrote that it trimmed its estimates based on slower bookings and DOGE concerns

** The median PT on Accenture's stock is $395.97; the stock was last at $322.41

** Of the 26 analysts who cover Accenture, 19 recommend a "strong buy" or "buy," seven recommend a "hold" and no analysts recommend a "sell" or "strong sell"

** Accenture is down 8.4% YTD vs a roughly 4.1% decline in the S&P 500 .SPX in that period

(Reporting by Caroline Valetkevitch)

((caroline.valetkevitch@thomsonreuters.com;))

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