Wall Street analysts predict that ACCO Brands Co. (NYSE:ACCO) will report $0.34 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for ACCO Brands’ earnings, with estimates ranging from $0.32 to $0.36. ACCO Brands also reported earnings per share of $0.34 in the same quarter last year. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, October 29th.
According to Zacks, analysts expect that ACCO Brands will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.20. For the next financial year, analysts anticipate that the firm will post earnings of $1.34 per share, with EPS estimates ranging from $1.30 to $1.41. Zacks’ EPS averages are a mean average based on a survey of research firms that cover ACCO Brands.
ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The company had revenue of $518.70 million for the quarter, compared to analyst estimates of $493.89 million. ACCO Brands had a net margin of 5.43% and a return on equity of 16.06%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share.
ACCO has been the topic of several recent analyst reports. TheStreet upgraded shares of ACCO Brands from a “c+” rating to a “b-” rating in a research note on Wednesday, August 21st. Zacks Investment Research lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. ValuEngine upgraded shares of ACCO Brands from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Noble Financial restated a “buy” rating and set a $14.00 target price on shares of ACCO Brands in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.00.
In related news, SVP Gregory J. Mccormack sold 13,608 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.20, for a total transaction of $125,193.60. Following the completion of the sale, the senior vice president now directly owns 97,430 shares of the company’s stock, valued at $896,356. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ralph Paul Hargrow sold 19,977 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $9.50, for a total value of $189,781.50. Following the sale, the senior vice president now directly owns 139,441 shares of the company’s stock, valued at $1,324,689.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,539 shares of company stock worth $2,876,810. Insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in shares of ACCO Brands by 1.4% during the second quarter. Northern Trust Corp now owns 2,238,837 shares of the industrial products company’s stock worth $17,621,000 after purchasing an additional 30,572 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ACCO Brands by 1.8% during the second quarter. JPMorgan Chase & Co. now owns 5,941,729 shares of the industrial products company’s stock worth $45,693,000 after purchasing an additional 104,622 shares during the period. United Services Automobile Association lifted its holdings in shares of ACCO Brands by 8.8% during the second quarter. United Services Automobile Association now owns 1,503,706 shares of the industrial products company’s stock worth $11,834,000 after purchasing an additional 121,430 shares during the period. Royal Bank of Canada lifted its holdings in shares of ACCO Brands by 6.3% during the second quarter. Royal Bank of Canada now owns 4,119,991 shares of the industrial products company’s stock worth $32,424,000 after purchasing an additional 243,404 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ACCO Brands by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 1,482,277 shares of the industrial products company’s stock worth $11,665,000 after purchasing an additional 19,214 shares during the period. 91.47% of the stock is owned by hedge funds and other institutional investors.
ACCO Brands stock traded up $0.02 during mid-day trading on Wednesday, hitting $10.05. The company had a trading volume of 745,788 shares, compared to its average volume of 568,796. The stock has a market cap of $981.99 million, a price-to-earnings ratio of 8.82, a PEG ratio of 1.20 and a beta of 1.83. ACCO Brands has a 1 year low of $6.07 and a 1 year high of $10.30. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $9.72 and a 200 day moving average of $8.74.
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, 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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