December 20, 2012 at 08:35 AM EST
Accenture Reports Higher Profits; Beats Earnings Estimates (ACN)

Technology and business services company, Accenture Plc(ACN) reported increased profits, beating analysts estimates on Wednesday.

The Dublin, Ireland based company reported first quarter earnings of $766 million, or $1.06 per share, up 7% from last years earnings of $712 million, or 96 cents per share. Analysts expected to see earnings of $1.04 per share.

The company reported revenue of $7.22 billion, up 2% from $7.07 billion last year. Analysts expected revenue of $7.32 billion.

Looking ahead, ACN estimates their Q2 revenue to be in the range of $6.9 billion and $7.15 billion. On average, analysts are expecting revenues of $7.14 billion.

For the full year 2013, ACN is expecting earnings in the range of $4.24 to $4.32 per share, an increase over their previously estimate range of $4.22 to $4.30 per share. Analysts are expecting to see EPS of $4.27.

Accenture shares were down -$3.67, or -5.21% during premarket trading Thursday. The stock is up 32% YTD.

The Bottom Line
Shares of Accenture (ACN) have a 2.30% dividend yield, based on last night’s closing stock price of $70.40. The stock has technical support in the $63-$65 price area. The stock is trading near all-time highs.

Accenture Plc(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.

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