ACCO Brands Corp. (ACCO) Issues FY13 Earnings Guidance
ACCO Brands Corp. (NASDAQ:ACCO) updated its FY13 earnings guidance on Tuesday. The company provided EPS guidance of $0.75-0.76 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.76, Stock Ratings Network.com reports.
ACCO has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of ACCO Brands Corp. from an underperform rating to a neutral rating in a research note to investors on Tuesday, December 31st. They now have a $6.80 price target on the stock. Finally, analysts at CJS Securities downgraded shares of ACCO Brands Corp. from an outperform rating to a market perform rating in a research note to investors on Thursday, October 31st. They now have a $8.00 price target on the stock, down previously from $9.00. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $7.93.
ACCO Brands Corp. (NASDAQ:ACCO) opened at 6.27 on Tuesday. ACCO Brands Corp. has a 1-year low of $5.56 and a 1-year high of $9.16. The stock has a 50-day moving average of $6.2 and a 200-day moving average of $6.59. The company has a market cap of $712.6 million and a price-to-earnings ratio of 70.45.
ACCO Brands Corp. (NASDAQ:ACCO) last released its earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.33 by $0.08. The company had revenue of $469.20 million for the quarter, compared to the consensus estimate of $487.40 million. During the same quarter last year, the company posted $0.29 earnings per share. ACCO Brands Corp.’s revenue was down 6.4% compared to the same quarter last year. Analysts expect that ACCO Brands Corp. will post $0.76 EPS for the current fiscal year.
ACCO Brands Corporation is one of the suppliers of branded school and office products. The Company sells its products through many channels that include the office products resale industry as well as through mass retail distribution and e-tailers.
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