Zacks: Analysts Expect ACCO Brands (ACCO) to Post $0.06 EPS

Wall Street analysts expect that ACCO Brands (NYSE:ACCO) will report earnings of $0.06 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ACCO Brands’ earnings, with estimates ranging from $0.03 to $0.07. ACCO Brands posted earnings of $0.04 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is expected to report its next quarterly earnings report before the market opens on Tuesday, May 1st.

On average, analysts expect that ACCO Brands will report full year earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.34 to $1.37. For the next financial year, analysts forecast that the business will report earnings of $1.45 per share, with EPS estimates ranging from $1.41 to $1.48. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow ACCO Brands.

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ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. ACCO Brands had a net margin of 6.76% and a return on equity of 17.97%. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share.

ACCO has been the subject of several analyst reports. Zacks Investment Research downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. ValuEngine lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.33.

Shares of NYSE ACCO opened at $12.90 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $1,372.64, a price-to-earnings ratio of 10.84, a PEG ratio of 0.95 and a beta of 1.27. ACCO Brands has a 1 year low of $10.35 and a 1 year high of $14.75.

The business also recently announced a Not Available dividend, which was paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, February 28th. ACCO Brands’s dividend payout ratio (DPR) is presently 20.17%.

ACCO Brands declared that its Board of Directors has approved a share buyback program on Wednesday, February 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

In related news, CAO Kathy D. Schnaedter sold 8,178 shares of ACCO Brands stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $13.05, for a total transaction of $106,722.90. Following the transaction, the chief accounting officer now directly owns 72,299 shares of the company’s stock, valued at $943,501.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Gregory J. Mccormack sold 14,000 shares of ACCO Brands stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $12.57, for a total transaction of $175,980.00. Following the transaction, the senior vice president now directly owns 108,517 shares in the company, valued at $1,364,058.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 451,058 shares of company stock worth $6,058,908. Corporate insiders own 4.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. LSV Asset Management increased its holdings in ACCO Brands by 0.5% during the fourth quarter. LSV Asset Management now owns 4,545,904 shares of the industrial products company’s stock valued at $55,460,000 after buying an additional 23,000 shares during the period. Boston Partners increased its holdings in ACCO Brands by 61.3% during the fourth quarter. Boston Partners now owns 3,088,854 shares of the industrial products company’s stock valued at $37,684,000 after buying an additional 1,174,067 shares during the period. Millennium Management LLC increased its holdings in ACCO Brands by 699.5% during the fourth quarter. Millennium Management LLC now owns 2,104,751 shares of the industrial products company’s stock valued at $25,678,000 after buying an additional 1,841,491 shares during the period. James Investment Research Inc. increased its holdings in ACCO Brands by 22.0% during the fourth quarter. James Investment Research Inc. now owns 1,278,726 shares of the industrial products company’s stock valued at $15,600,000 after buying an additional 231,017 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in ACCO Brands by 8.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,075,811 shares of the industrial products company’s stock valued at $12,803,000 after buying an additional 82,306 shares during the period. 94.90% of the stock is currently owned by institutional investors.

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ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

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Earnings History and Estimates for ACCO Brands (NYSE:ACCO)

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