ACCO Brands (ACCO) Expected to Post Quarterly Sales of $384.97 Million

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.

How to Become a New Pot Stock Millionaire

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.

ILLEGAL ACTIVITY NOTICE: This report was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at www.tickerreport.com/banking-finance/3374967/acco-brands-acco-expected-to-post-quarterly-sales-of-384-97-million.html.

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.

Get a free copy of the Zacks research report on ACCO Brands (ACCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Leave a Reply

Your email address will not be published. Required fields are marked *