ACCO Brands (ACCO) Announces Earnings Results

ACCO Brands (NYSE:ACCO) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04, Briefing.com reports. The firm had revenue of $566.80 million for the quarter, compared to analyst estimates of $563.27 million. ACCO Brands had a return on equity of 15.99% and a net margin of 3.51%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. ACCO Brands updated its FY18 guidance to $1.33-1.37 EPS.

ACCO Brands (NYSE ACCO) traded up $1.70 during mid-day trading on Wednesday, hitting $12.85. The stock had a trading volume of 1,429,396 shares, compared to its average volume of 515,751. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.70. The firm has a market cap of $1,188.04, a P/E ratio of 22.41, a P/E/G ratio of 0.89 and a beta of 1.34. ACCO Brands has a one year low of $10.35 and a one year high of $14.75.

ACCO Brands declared that its board has authorized a share buyback plan 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

ACCO has been the topic of a number of recent research reports. SunTrust Banks reiterated a “hold” rating and issued a $13.00 price objective on shares of ACCO Brands in a research report on Wednesday, November 1st. Zacks Investment Research lowered ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $15.00.

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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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