Hot Tech stock to watch: Accenture Plc (NYSE: ACN)

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Accenture Plc (NYSE: ACN) stock rose over 0.5% on 26th September, 2019 (as of 12:28 pm GMT-4 ; Source: Google finance) after the company beaten the earnings estimate for the fourth quarter of FY 19 but gave subdued forecast for the full year. Net income attributable to the company rose to $1.13 billion in the fourth quarter ended Aug. 31, from $1.03 billion, a year earlier. The new bookings for the fourth quarter were $12.9 billion, and shows a negative 2 percent foreign-exchange impact compared with new bookings in the fourth quarter of fiscal 2018.

ACN in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.74, beating the analysts’ estimates for the adjusted earnings per share of $1.71, according to the FactSet consensus. The company had reported the adjusted revenue growth of 5 percent to $11.06 billion in the second quarter of FY 19, which is in line with the analysts’ estimates for revenue of $11.06 billion. The consulting revenue grew 5% to $6.19 billion to top expectations of $6.18 billion and outsourcing revenue grew 6% to $4.87 billion but came up shy of expectations of $4.89 billion.

During the fourth quarter of FY19, ACN has repurchased or redeemed 2.1 million shares, including 2.0 million shares repurchased in the open market, for a total of $407 million.

ACN is anticipating revenue for both the first quarter and fiscal year to grow in the range of 5% and 8% on a local-currency basis. For the first quarter, Accenture expects the revenue to be in the range of $10.9 billion to $11.2 billion. Analysts polled by FactSet were projecting it to be $11.26 billion.

The company expects results in the first quarter will be hurt by a 2% foreign exchange impact compared with a year earlier. ACN anticipates them to be hurt by a 1% foreign exchange impact for the fiscal year compared with a year prior.

The company expects earnings to be in the range of $7.62 to $7.84 a share for the fiscal year 2020, below the FactSet consensus of $7.96. The company expects its operating margin to rise between 10 basis points and 30 basis points from a year earlier of 14.7% to 14.9%. ACN expects the free cash flow to be in the range of $5.7 billion to $6.1 billion and it expects its operating cash flow to be in the range of $6.35 billion to $6.75 billion.

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