Brokerages predict that ACCO Brands (NYSE:ACCO) will report sales of $384.97 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ACCO Brands’ earnings. The lowest sales estimate is $368.98 million and the highest is $393.50 million. ACCO Brands reported sales of $359.80 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, May 1st.
According to Zacks, analysts expect that ACCO Brands will report full-year sales of $1.99 billion for the current financial year, with estimates ranging from $1.98 billion to $2.01 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.00 billion per share, with estimates ranging from $1.99 billion to $2.00 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ACCO Brands.
ACCO Brands (NYSE:ACCO) last announced its earnings results on Wednesday, February 14th. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. ACCO Brands had a return on equity of 17.97% and a net margin of 6.76%. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. During the same period in the prior year, the business posted $0.32 earnings per share. ACCO Brands’s revenue was up 29.5% compared to the same quarter last year.
ACCO has been the subject of several analyst reports. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, March 21st. ValuEngine downgraded ACCO Brands from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.33.
In related news, CAO Kathy D. Schnaedter sold 8,178 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Boris Elisman sold 47,600 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $13.83, for a total value of $658,308.00. Following the transaction, the chief executive officer now directly owns 625,809 shares in the company, valued at $8,654,938.47. The disclosure for this sale can be found here. Insiders have sold 451,058 shares of company stock worth $6,058,908 over the last three months. 4.50% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. American International Group Inc. increased its position in ACCO Brands by 8.1% in the 3rd quarter. American International Group Inc. now owns 72,534 shares of the industrial products company’s stock worth $863,000 after purchasing an additional 5,424 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in ACCO Brands by 92.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,390 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 5,938 shares during the last quarter. Legal & General Group Plc increased its position in ACCO Brands by 30.7% in the 3rd quarter. Legal & General Group Plc now owns 49,685 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 11,659 shares during the last quarter. California Public Employees Retirement System increased its position in ACCO Brands by 6.0% in the 3rd quarter. California Public Employees Retirement System now owns 265,090 shares of the industrial products company’s stock worth $3,155,000 after purchasing an additional 15,065 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in ACCO Brands by 24.2% in the 4th quarter. Two Sigma Advisers LP now owns 77,391 shares of the industrial products company’s stock worth $944,000 after purchasing an additional 15,100 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.
Shares of NYSE ACCO traded down $0.30 during mid-day trading on Friday, hitting $12.80. 481,360 shares of the company traded hands, compared to its average volume of 567,539. ACCO Brands has a 1 year low of $10.35 and a 1 year high of $14.75. The company has a market cap of $1,409.89, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.98 and a beta of 1.28. 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 firm also recently declared a Not Available dividend, which was paid on Wednesday, March 21st. Investors 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 payout ratio is 20.17%.
ACCO Brands declared that its board has authorized a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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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