Acco Brands Corporation (ACCO) Set to Announce Earnings on Monday
Acco Brands Corporation (NYSE:ACCO) will be releasing its earnings data before the market opens on Monday, October 30th. Analysts expect Acco Brands Corporation to post earnings of $0.34 per share for the quarter. Acco Brands Corporation has set its FY17 guidance at $1.07-1.10 EPS.
Acco Brands Corporation (NYSE:ACCO) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. Acco Brands Corporation’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, analysts expect Acco Brands Corporation to post $1.1 EPS for the current fiscal year and $1.19 EPS for the next fiscal year.
Shares of Acco Brands Corporation (NYSE:ACCO) opened at 12.85 on Monday. The company’s 50-day moving average price is $11.99 and its 200-day moving average price is $11.99. The stock has a market cap of $1.40 billion, a PE ratio of 25.60 and a beta of 1.40. Acco Brands Corporation has a 52-week low of $9.09 and a 52-week high of $14.75.
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A number of equities analysts recently issued reports on the company. BidaskClub lowered Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. ValuEngine upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BWS Financial restated a “buy” rating and issued a $18.00 target price on shares of Acco Brands Corporation in a research note on Tuesday, July 4th. Finally, Zacks Investment Research lowered Acco Brands Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th.
In related news, insider Gregory J. Mccormack sold 25,000 shares of the firm’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 completion of the transaction, the insider now owns 63,889 shares in the company, valued at approximately $699,584.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Neal V. Fenwick bought 12,313 shares of Acco Brands Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $10.60 per share, with a total value of $130,517.80. Following the purchase, the vice president now directly owns 423,311 shares in the company, valued at $4,487,096.60. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.
About Acco Brands Corporation
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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