ACCO Brands Corp. Trading Up 9.6% Following Strong Earnings (ACCO)
ACCO Brands Corp. (NASDAQ:ACCO) was up 9.6% during mid-day trading on Wednesday following a stronger than expected earnings report, Stock Ratings Network reports. The company traded as high as $6.72 and last traded at $6.61, with a volume of 1,127,669 shares. The stock had previously closed at $6.03.
The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.02. The company had revenue of $427.70 million for the quarter, compared to the consensus estimate of $407.01 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis.
The stock’s 50-day moving average is $6.29 and its 200-day moving average is $6.14. The company has a market cap of $740.5 million and a price-to-earnings ratio of 8.89.
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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