Analysts forecast that ACCO Brands Co. (NYSE:ACCO) will report $552.21 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for ACCO Brands’ earnings. The highest sales estimate is $558.10 million and the lowest is $548.10 million. ACCO Brands posted sales of $566.80 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.6%. The business is expected to report its next quarterly earnings report on Wednesday, February 13th.
According to Zacks, analysts expect that ACCO Brands will report full year sales of $1.96 billion for the current financial year, with estimates ranging from $1.96 billion to $1.97 billion. For the next year, analysts anticipate that the firm will post sales of $1.99 billion, with estimates ranging from $1.90 billion to $2.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for ACCO Brands.
ACCO Brands (NYSE:ACCO) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. ACCO Brands had a net margin of 7.36% and a return on equity of 17.38%. ACCO Brands’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share.
Several research firms have recently commented on ACCO. ValuEngine lowered ACCO Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded ACCO Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Barrington Research set a $13.00 price objective on ACCO Brands and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, TheStreet lowered ACCO Brands from a “b-” rating to a “c+” rating in a research note on Friday, November 16th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.25.
NYSE:ACCO opened at $7.22 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.63 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $772.60 million, a PE ratio of 6.07, a P/E/G ratio of 0.64 and a beta of 1.66. ACCO Brands has a one year low of $7.19 and a one year high of $14.63.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 3.32%. ACCO Brands’s dividend payout ratio (DPR) is 20.17%.
In other news, VP Neal V. Fenwick bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was bought at an average price of $8.06 per share, with a total value of $80,600.00. Following the acquisition, the vice president now owns 520,225 shares of the company’s stock, valued at approximately $4,193,013.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Boris Elisman bought 6,547 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average cost of $7.72 per share, with a total value of $50,542.84. Following the acquisition, the chairman now directly owns 798,917 shares in the company, valued at approximately $6,167,639.24. The disclosure for this purchase can be found here. Insiders bought a total of 19,647 shares of company stock valued at $156,253 over the last 90 days. 4.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in ACCO Brands by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,727,334 shares of the industrial products company’s stock worth $109,919,000 after buying an additional 41,829 shares during the period. BlackRock Inc. boosted its holdings in ACCO Brands by 0.7% in the 2nd quarter. BlackRock Inc. now owns 7,408,285 shares of the industrial products company’s stock worth $102,604,000 after buying an additional 48,551 shares during the period. JPMorgan Chase & Co. boosted its holdings in ACCO Brands by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,903,441 shares of the industrial products company’s stock worth $66,708,000 after buying an additional 449,077 shares during the period. Boston Partners boosted its holdings in ACCO Brands by 2.3% in the 2nd quarter. Boston Partners now owns 3,145,140 shares of the industrial products company’s stock worth $43,560,000 after buying an additional 71,661 shares during the period. Finally, Northern Trust Corp boosted its holdings in ACCO Brands by 5.5% in the 2nd quarter. Northern Trust Corp now owns 2,510,775 shares of the industrial products company’s stock worth $34,775,000 after buying an additional 131,036 shares during the period. 93.15% of the stock is owned by institutional investors.
About ACCO Brands
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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