Analysts predict that ACCO Brands Co. (NYSE:ACCO) will report sales of $534.55 million for the current quarter, according to Zacks. Five analysts have made estimates for ACCO Brands’ earnings, with the highest sales estimate coming in at $541.00 million and the lowest estimate coming in at $524.50 million. ACCO Brands reported sales of $529.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, February 11th.
On average, analysts expect that ACCO Brands will report full year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.96 billion. For the next financial year, analysts anticipate that the company will post sales of $1.96 billion, with estimates ranging from $1.94 billion to $1.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover ACCO Brands.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). ACCO Brands had a return on equity of 15.40% and a net margin of 5.05%. The business had revenue of $505.70 million for the quarter, compared to the consensus estimate of $517.63 million. During the same period in the prior year, the business posted $0.34 earnings per share. ACCO Brands’s revenue was down .3% on a year-over-year basis.
ACCO has been the topic of several research reports. Zacks Investment Research upgraded ACCO Brands from a “sell” rating to a “hold” rating in a report on Monday, January 6th. ValuEngine upgraded ACCO Brands from a “strong sell” rating to a “sell” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.00.
In other ACCO Brands news, Director Robert J. Keller sold 121,100 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $9.14, for a total transaction of $1,106,854.00. Following the transaction, the director now directly owns 355,847 shares in the company, valued at approximately $3,252,441.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCO. Northern Trust Corp increased its holdings in shares of ACCO Brands by 1.4% in the 2nd quarter. Northern Trust Corp now owns 2,238,837 shares of the industrial products company’s stock valued at $17,621,000 after acquiring an additional 30,572 shares during the period. SG Americas Securities LLC purchased a new position in shares of ACCO Brands in the 3rd quarter valued at $128,000. Rhumbline Advisers increased its holdings in shares of ACCO Brands by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 168,917 shares of the industrial products company’s stock valued at $1,667,000 after acquiring an additional 12,503 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of ACCO Brands by 12.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 920,334 shares of the industrial products company’s stock valued at $9,084,000 after acquiring an additional 101,165 shares during the period. Finally, Man Group plc increased its holdings in shares of ACCO Brands by 37.9% in the 3rd quarter. Man Group plc now owns 24,688 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 6,782 shares during the period. Institutional investors own 88.75% of the company’s stock.
Shares of ACCO stock opened at $9.10 on Friday. ACCO Brands has a 52-week low of $7.25 and a 52-week high of $10.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.96 and a current ratio of 1.62. The firm has a market capitalization of $882.61 million, a P/E ratio of 9.48, a P/E/G ratio of 0.99 and a beta of 1.75. The stock has a 50 day moving average price of $9.25 and a 200 day moving average price of $9.25.
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, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.
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