Wall Street brokerages expect ACCO Brands Co. (NYSE:ACCO) to post $536.88 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for ACCO Brands’ earnings, with the lowest sales estimate coming in at $530.00 million and the highest estimate coming in at $547.63 million. ACCO Brands reported sales of $532.20 million during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The firm is expected to report its next earnings results on Monday, October 29th.
According to Zacks, analysts expect that ACCO Brands will report full year sales of $2.01 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.02 billion. For the next year, analysts expect that the company will post sales of $2.03 billion per share, with estimates ranging from $1.99 billion to $2.05 billion. Zacks Investment Research’s sales averages 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 data on Tuesday, July 31st. 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 17.95% and a net margin of 7.02%. The company had revenue of $498.80 million for the quarter, compared to the consensus estimate of $493.85 million. During the same quarter last year, the business earned $0.31 earnings per share. ACCO Brands’s revenue was up 1.8% compared to the same quarter last year.
A number of brokerages have recently issued reports on ACCO. Zacks Investment Research downgraded ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Barrington Research restated a “buy” rating and set a $16.00 price objective on shares of ACCO Brands in a research report on Thursday, June 14th. Noble Financial restated a “buy” rating and set a $15.00 price objective on shares of ACCO Brands in a research report on Monday, August 6th. ValuEngine upgraded ACCO Brands from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, BWS Financial set a $18.00 price objective on ACCO Brands and gave the stock a “buy” rating in a research report on Tuesday, May 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.40.
Shares of ACCO traded up $0.20 during mid-day trading on Wednesday, reaching $12.25. 372,300 shares of the company were exchanged, compared to its average volume of 512,214. ACCO Brands has a 52 week low of $10.68 and a 52 week high of $14.63. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.74 and a quick ratio of 1.15. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Friday, August 31st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.96%. ACCO Brands’s payout ratio is currently 20.17%.
In other ACCO Brands news, SVP Joseph S. Pekala sold 20,473 shares of ACCO Brands stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $13.52, for a total value of $276,794.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of ACCO Brands by 0.7% during the second quarter. BlackRock Inc. now owns 7,408,285 shares of the industrial products company’s stock valued at $102,604,000 after acquiring an additional 48,551 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of ACCO Brands by 1.8% during the first quarter. Royal Bank of Canada now owns 6,324,456 shares of the industrial products company’s stock valued at $79,371,000 after acquiring an additional 111,230 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of ACCO Brands by 15.0% during the first quarter. Wells Fargo & Company MN now owns 3,995,400 shares of the industrial products company’s stock valued at $50,144,000 after acquiring an additional 520,381 shares in the last quarter. Boston Partners increased its holdings in shares of ACCO Brands by 2.3% during the second quarter. Boston Partners now owns 3,145,140 shares of the industrial products company’s stock valued at $43,560,000 after acquiring an additional 71,661 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of ACCO Brands by 16.6% during the first quarter. Millennium Management LLC now owns 2,454,991 shares of the industrial products company’s stock valued at $30,810,000 after acquiring an additional 350,240 shares in the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.
About ACCO Brands
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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