ACCO Brands Co. (ACCO) Expected to Announce Quarterly Sales of $560.32 Million
Analysts expect that ACCO Brands Co. (NYSE:ACCO) will report sales of $560.32 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for ACCO Brands’ earnings. The highest sales estimate is $575.36 million and the lowest is $546.20 million. ACCO Brands posted sales of $437.60 million during the same quarter last year, which indicates a positive year over year growth rate of 28%. The company is scheduled to announce its next earnings results on Wednesday, February 28th.
On average, analysts expect that ACCO Brands will report full year sales of $560.32 million for the current year, with estimates ranging from $1.93 billion to $1.96 billion. For the next year, analysts expect that the firm will post sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.02 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for ACCO Brands.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Monday, October 30th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. ACCO Brands had a net margin of 3.51% and a return on equity of 15.99%. The firm had revenue of $532.20 million for the quarter, compared to analyst estimates of $529.65 million. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of ACCO Brands from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.33.
In other news, insider Gregory J. Mccormack sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $10.95, for a total value of $273,750.00. Following the completion of the transaction, the insider now directly owns 63,889 shares in the company, valued at $699,584.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its stake in ACCO Brands by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 4,002 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of ACCO Brands by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 9,558 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 1,433 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of ACCO Brands by 12.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,496 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 1,014 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of ACCO Brands in the 3rd quarter valued at approximately $120,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of ACCO Brands by 24.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,461 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 2,026 shares in the last quarter. 92.62% of the stock is owned by institutional investors and hedge funds.
Shares of ACCO Brands (NYSE:ACCO) traded down $0.10 during trading on Friday, hitting $12.75. 515,400 shares of the stock were exchanged, compared to its average volume of 575,102. The firm has a market cap of $1,380.00, a price-to-earnings ratio of 12.60, a PEG ratio of 1.12 and a beta of 1.52. The company has a current ratio of 1.70, a quick ratio of 1.09 and a debt-to-equity ratio of 1.39. ACCO Brands has a 1-year low of $10.35 and a 1-year high of $14.75.
ACCO Brands Company Profile
ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.
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