Wall Street brokerages expect Acco Brands Corporation (NYSE:ACCO) to report $499.89 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Acco Brands Corporation’s earnings, with the lowest sales estimate coming in at $491.40 million and the highest estimate coming in at $513.04 million. Acco Brands Corporation posted sales of $410.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 21.9%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, August 1st.
According to Zacks, analysts expect that Acco Brands Corporation will report full year sales of $499.89 million for the current year, with estimates ranging from $1.93 billion to $1.98 billion. For the next financial year, analysts forecast that the business will post sales of $1.98 billion per share, with estimates ranging from $1.95 billion to $2.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Acco Brands Corporation.
Acco Brands Corporation (NYSE:ACCO) last posted its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. The firm had revenue of $359.80 million during the quarter, compared to the consensus estimate of $342.56 million. Acco Brands Corporation had a net margin of 5.75% and a return on equity of 13.98%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS.
ACCO has been the subject of a number of analyst reports. BWS Financial restated a “buy” rating and issued a $18.00 price objective on shares of Acco Brands Corporation in a research report on Tuesday, July 4th. ValuEngine upgraded shares of Acco Brands Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, May 18th. Zacks Investment Research upgraded shares of Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, May 5th. Finally, BidaskClub upgraded shares of Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th.
Acco Brands Corporation (NYSE ACCO) traded up 0.625% during mid-day trading on Thursday, reaching $12.075. 386,091 shares of the company’s stock were exchanged. Acco Brands Corporation has a 52-week low of $9.06 and a 52-week high of $14.75. The company has a 50-day moving average of $11.62 and a 200-day moving average of $12.64. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 14.156 and a beta of 1.30.
In other news, SVP Kathy D. Schnaedter sold 68,653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $11.26, for a total value of $773,032.78. Following the completion of the transaction, the senior vice president now directly owns 68,655 shares in the company, valued at $773,055.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Acco Brands Corporation by 8.3% in the first quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock valued at $107,000 after buying an additional 625 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Acco Brands Corporation by 45.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,435 shares of the industrial products company’s stock valued at $111,000 after buying an additional 2,617 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Acco Brands Corporation during the first quarter valued at about $112,000. New York State Teachers Retirement System raised its stake in shares of Acco Brands Corporation by 1.1% in the first quarter. New York State Teachers Retirement System now owns 9,400 shares of the industrial products company’s stock valued at $124,000 after buying an additional 100 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Acco Brands Corporation during the first quarter valued at about $133,000. Institutional investors and hedge funds own 91.83% of the company’s stock.
About Acco Brands Corporation
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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