Wall Street brokerages expect ACCO Brands Co. (NYSE:ACCO) to announce sales of $384.97 million for the current quarter, Zacks reports. Four analysts have provided estimates for ACCO Brands’ earnings, with the lowest sales estimate coming in at $368.98 million and the highest estimate coming in at $393.50 million. ACCO Brands reported sales of $359.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The firm is scheduled to issue its next earnings results on Wednesday, May 2nd.
On average, analysts expect that ACCO Brands will report full-year sales of $384.97 million for the current financial year, with estimates ranging from $1.98 billion to $2.01 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.00 billion per share, with estimates ranging from $1.99 billion to $2.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow ACCO Brands.
ACCO Brands (NYSE:ACCO) last announced its earnings results on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The company 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 17.97% and a net margin of 6.76%. ACCO Brands’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share.
In other news, VP Thomas W. Tedford sold 241,266 shares of ACCO Brands stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $13.36, for a total transaction of $3,223,313.76. Following the transaction, the vice president now owns 190,500 shares in the company, valued at $2,545,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark C. Anderson sold 38,698 shares of ACCO Brands stock in a transaction on Friday, February 16th. The shares were sold at an average price of $13.64, for a total value of $527,840.72. Following the transaction, the senior vice president now owns 75,756 shares in the company, valued at approximately $1,033,311.84. The disclosure for this sale can be found here. Insiders have sold 442,880 shares of company stock worth $5,952,186 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of ACCO. DekaBank Deutsche Girozentrale grew its holdings in shares of ACCO Brands by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock valued at $100,000 after buying an additional 4,002 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in ACCO Brands in the third quarter valued at about $120,000. Hotchkis & Wiley Capital Management LLC purchased a new position in ACCO Brands in the third quarter valued at about $136,000. Oppenheimer Asset Management Inc. grew its stake in ACCO Brands by 92.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,390 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 5,938 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in ACCO Brands by 53.9% in the third quarter. Victory Capital Management Inc. now owns 14,714 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 5,156 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.
Shares of ACCO Brands (ACCO) opened at $12.90 on Monday. The stock has a market capitalization of $1,372.64, a price-to-earnings ratio of 10.93, a PEG ratio of 0.95 and a beta of 1.21. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.15. ACCO Brands has a 52-week low of $10.35 and a 52-week high of $14.75.
ACCO Brands declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a Not Available dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, February 28th. ACCO Brands’s dividend payout ratio is 20.00%.
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ACCO Brands 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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