$0.34 EPS Expected for Acco Brands Corporation (NYSE:ACCO) This Quarter
Analysts predict that Acco Brands Corporation (NYSE:ACCO) will report $0.34 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Acco Brands Corporation’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.33. Acco Brands Corporation reported earnings of $0.29 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.2%. The company is scheduled to announce its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that Acco Brands Corporation will report full-year earnings of $1.10 per share for the current fiscal year. For the next fiscal year, analysts expect that the company will post earnings of $1.19 per share, with EPS estimates ranging from $1.18 to $1.20. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Acco Brands Corporation.
Acco Brands Corporation (NYSE:ACCO) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490 million during the quarter, compared to analysts’ expectations of $497.17 million. Acco Brands Corporation had a net margin of 3.25% and a return on equity of 15.03%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share.
ACCO has been the subject of several research reports. BWS Financial reaffirmed a “buy” rating and set a $18.00 price target on shares of Acco Brands Corporation in a research note on Tuesday, July 4th. BidaskClub cut shares of Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. ValuEngine raised shares of Acco Brands Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, May 18th. Finally, Zacks Investment Research raised shares of Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, May 5th.
In other news, SVP Kathy D. Schnaedter sold 68,653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $11.26, for a total transaction of $773,032.78. Following the completion of the transaction, the senior vice president now directly owns 68,655 shares of the company’s stock, valued at approximately $773,055.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC purchased a new position in Acco Brands Corporation during the first quarter valued at $229,000. Bowling Portfolio Management LLC boosted its position in Acco Brands Corporation by 2.4% in the first quarter. Bowling Portfolio Management LLC now owns 62,875 shares of the industrial products company’s stock valued at $827,000 after buying an additional 1,494 shares in the last quarter. Wells Fargo & Company MN boosted its position in Acco Brands Corporation by 4.4% in the first quarter. Wells Fargo & Company MN now owns 4,566,888 shares of the industrial products company’s stock valued at $60,056,000 after buying an additional 194,294 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Acco Brands Corporation during the first quarter valued at $4,027,000. Finally, Nationwide Fund Advisors boosted its position in Acco Brands Corporation by 0.9% in the first quarter. Nationwide Fund Advisors now owns 610,644 shares of the industrial products company’s stock valued at $8,030,000 after buying an additional 5,651 shares in the last quarter. 91.39% of the stock is owned by institutional investors and hedge funds.
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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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