Analysts Anticipate Acco Brands Corporation (ACCO) to Announce $0.44 EPS
Acco Brands Corporation (NYSE:ACCO) has received an average broker rating score of 2.25 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company.
Analysts have set a twelve-month consensus price objective of $15.67 for the company and are expecting that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Acco Brands Corporation an industry rank of 7 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday, October 31st. BidaskClub lowered Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine raised Acco Brands Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $13.00 price objective on shares of Acco Brands Corporation in a report on Wednesday, November 1st.
Shares of Acco Brands Corporation (NYSE ACCO) traded up $0.10 during mid-day trading on Friday, reaching $12.85. The company had a trading volume of 601,435 shares, compared to its average volume of 575,372. Acco Brands Corporation has a 1-year low of $10.35 and a 1-year high of $14.75. The company has a market cap of $1,363.85, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.52. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.70 and a quick ratio of 1.09.
Acco Brands Corporation (NYSE:ACCO) last issued its quarterly earnings data on Monday, October 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Acco Brands Corporation had a return on equity of 15.99% and a net margin of 3.51%. The business had revenue of $532.20 million during the quarter, compared to analyst estimates of $529.65 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. sell-side analysts forecast that Acco Brands Corporation will post 1.15 EPS for the current fiscal year.
In other Acco Brands Corporation news, insider Gregory J. Mccormack sold 25,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total transaction of $273,750.00. Following the completion of the transaction, the insider now directly owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ACCO. Teachers Advisors LLC boosted its stake in Acco Brands Corporation by 15.8% during the 1st quarter. Teachers Advisors LLC now owns 1,210,803 shares of the industrial products company’s stock valued at $15,922,000 after purchasing an additional 165,311 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Acco Brands Corporation by 1,766.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,261 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 18,229 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Acco Brands Corporation by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,666,145 shares of the industrial products company’s stock valued at $127,109,000 after acquiring an additional 174,498 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Acco Brands Corporation by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 804,329 shares of the industrial products company’s stock valued at $10,576,000 after acquiring an additional 22,287 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Acco Brands Corporation by 32.9% during the 1st quarter. Renaissance Technologies LLC now owns 605,147 shares of the industrial products company’s stock valued at $7,958,000 after acquiring an additional 149,800 shares during the last quarter. 90.27% of the stock is owned by hedge funds and other institutional investors.
Acco Brands Corporation 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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