$536.99 Million in Sales Expected for Acco Brands Corporation (ACCO) This Quarter
Equities analysts predict that Acco Brands Corporation (NYSE:ACCO) will report sales of $536.99 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Acco Brands Corporation’s earnings. The lowest sales estimate is $523.60 million and the highest is $566.67 million. Acco Brands Corporation reported sales of $431.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.5%. The company is expected to announce its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that Acco Brands Corporation will report full-year sales of $536.99 million for the current year, with estimates ranging from $1.92 billion to $1.98 billion. For the next financial year, analysts forecast that the firm will post sales of $1.96 billion per share, with estimates ranging from $1.93 billion to $2.04 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Acco Brands Corporation.
Acco Brands Corporation (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $497.17 million. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the company. ValuEngine cut Acco Brands Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Acco Brands Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub cut Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, BWS Financial reiterated a “buy” rating and issued a $18.00 price target on shares of Acco Brands Corporation in a research note on Tuesday, July 4th.
In other Acco Brands Corporation news, VP Neal V. Fenwick bought 12,313 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average cost of $10.60 per share, for a total transaction of $130,517.80. Following the completion of the purchase, the vice president now directly owns 423,311 shares of the company’s stock, valued at $4,487,096.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Gregory J. Mccormack sold 25,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the sale, the insider now owns 63,889 shares of the company’s stock, valued at $699,584.55. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACCO. Victory Capital Management Inc. lifted its stake in Acco Brands Corporation by 8.3% during the first quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 625 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Acco Brands Corporation by 12.0% during the second quarter. Ameritas Investment Partners Inc. now owns 9,496 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 1,014 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Acco Brands Corporation by 24.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,461 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 2,026 shares during the last quarter. Virginia Retirement Systems ET AL lifted its stake in Acco Brands Corporation by 4.0% during the second quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 400 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Acco Brands Corporation by 1.1% during the first quarter. New York State Teachers Retirement System now owns 9,400 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.
Shares of Acco Brands Corporation (NYSE ACCO) traded up 0.222% during trading on Friday, hitting $11.275. The stock had a trading volume of 279,945 shares. The stock has a market capitalization of $1.23 billion, a P/E ratio of 22.460 and a beta of 1.37. The stock’s 50-day moving average is $11.02 and its 200-day moving average is $12.14. Acco Brands Corporation has a 12-month low of $9.06 and a 12-month high of $14.75.
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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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