Accenture Continues Positive I.T. Trends, Beats Estimates (ACN)

By Staff,

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Tech consulting firm Accenture ( ACN ) reported its quarterly profit rose to $606 million, or 81 cents a share, from $525 million, or 67 cents a share, a year earlier. The results exceeded analysts' average estimates of 75 cents per share.

Accenture's quarterly bookings totaled $6.3 billion, ahead of analysts' forecasts. The company continues to see shorter-term contracts, but is seeing the size of deals increasing. Looking ahead, the company raised its outlook for earnings per share to a range of $3.08 to $3.16 from a previous range of $3 to $3.08. Revenue forecasts were also bumped up to a range of $5.6 billion to $5.8 billion, ahead of the $5.6 billion forecast for analysts.

The stock is trading up 3% in the pre-market.

The Bottom Line
Shares of Accenture ( ACN ) have a 1.93% dividend yield, based on last night's closing stock price of $46.67. The stock has technical support in the $43 price area. The shares are trading at all-time highs and have little overhead resistance.

Accenture ( ACN ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: ACN

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