Zacks: Brokerages Anticipate ACCO Brands Co. (NYSE:ACCO) Will Announce Quarterly Sales of $534.55 Million

Wall Street analysts expect ACCO Brands Co. (NYSE:ACCO) to report sales of $534.55 million for the current quarter, Zacks reports. Five analysts have made estimates for ACCO Brands’ earnings. The lowest sales estimate is $524.50 million and the highest is $541.00 million. ACCO Brands posted sales of $529.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 1%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that ACCO Brands will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.96 billion. For the next year, analysts expect that the business will report sales of $1.96 billion, with estimates ranging from $1.94 billion to $1.99 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover ACCO Brands.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). ACCO Brands had a return on equity of 15.40% and a net margin of 5.05%. The company had revenue of $505.70 million for the quarter, compared to analyst estimates of $517.63 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis.

ACCO has been the subject of several research analyst reports. ValuEngine downgraded shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 30th. Noble Financial restated a “buy” rating and set a $14.00 price target on shares of ACCO Brands in a research report on Thursday, August 8th. Zacks Investment Research upgraded shares of ACCO Brands from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, TheStreet upgraded shares of ACCO Brands from a “c+” rating to a “b-” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.00.

Shares of ACCO traded down $0.10 during mid-day trading on Friday, hitting $9.10. 345,805 shares of the company were exchanged, compared to its average volume of 572,304. ACCO Brands has a 1-year low of $6.07 and a 1-year high of $10.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.96 and a current ratio of 1.62. The company has a 50 day moving average of $9.57 and a 200-day moving average of $8.83. The stock has a market cap of $920.40 million, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.77.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 29th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, November 27th. This is an increase from ACCO Brands’s previous quarterly dividend of $0.06. ACCO Brands’s dividend payout ratio is 21.05%.

In other ACCO Brands news, SVP Gregory J. Mccormack sold 10,872 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $9.55, for a total value of $103,827.60. Following the completion of the sale, the senior vice president now owns 108,302 shares in the company, valued at approximately $1,034,284.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Keller sold 121,100 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $9.14, for a total transaction of $1,106,854.00. Following the completion of the sale, the director now owns 355,847 shares of the company’s stock, valued at approximately $3,252,441.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 384,142 shares of company stock valued at $3,581,696. Insiders own 4.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in ACCO Brands by 1.4% in the 2nd quarter. Northern Trust Corp now owns 2,238,837 shares of the industrial products company’s stock valued at $17,621,000 after acquiring an additional 30,572 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of ACCO Brands by 1.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,941,729 shares of the industrial products company’s stock worth $45,693,000 after buying an additional 104,622 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of ACCO Brands by 8.0% during the 3rd quarter. Rhumbline Advisers now owns 168,917 shares of the industrial products company’s stock worth $1,667,000 after buying an additional 12,503 shares during the last quarter. Bailard Inc. acquired a new stake in shares of ACCO Brands during the 3rd quarter worth approximately $380,000. Finally, United Services Automobile Association increased its holdings in shares of ACCO Brands by 8.8% during the 2nd quarter. United Services Automobile Association now owns 1,503,706 shares of the industrial products company’s stock worth $11,834,000 after buying an additional 121,430 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

ACCO Brands Company Profile

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, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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Earnings History and Estimates for ACCO Brands (NYSE:ACCO)

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