ACCO Brands (ACCO) Posts Earnings Results

ACCO Brands (NYSE:ACCO) posted its earnings results on Wednesday. The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04, reports. ACCO Brands had a return on equity of 15.99% and a net margin of 3.51%. The firm had revenue of $566.80 million for the quarter, compared to the consensus estimate of $563.27 million. During the same quarter in the prior year, the business earned $0.32 EPS. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. ACCO Brands updated its FY18 guidance to $1.33-1.37 EPS.

Shares of ACCO Brands (NYSE:ACCO) traded up $1.87 on Wednesday, hitting $13.02. The stock had a trading volume of 1,092,079 shares, compared to its average volume of 482,954. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.70. ACCO Brands has a 12-month low of $10.35 and a 12-month high of $14.75. The company has a market cap of $1,188.04, a PE ratio of 22.41, a P/E/G ratio of 0.89 and a beta of 1.34.

ACCO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, October 31st. SunTrust Banks reiterated a “hold” rating and set a $13.00 target price on shares of ACCO Brands in a report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.00.

ACCO Brands announced that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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About ACCO Brands

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.

Earnings History for ACCO Brands (NYSE:ACCO)

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