Equities research analysts expect Acco Brands Corporation (NYSE:ACCO) to announce $536.99 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Acco Brands Corporation’s earnings, with estimates ranging from $523.60 million to $566.67 million. Acco Brands Corporation reported sales of $431.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.5%. The company is expected to issue its next earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Acco Brands Corporation will report full-year sales of $536.99 million for the current financial year, with estimates ranging from $1.92 billion to $1.98 billion. For the next year, analysts expect that the company will post sales of $1.96 billion per share, with estimates ranging from $1.93 billion to $2.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Acco Brands Corporation.
Acco Brands Corporation (NYSE:ACCO) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $490 million during the quarter, compared to the consensus estimate of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share.
A number of analysts have weighed in on ACCO shares. Zacks Investment Research upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, May 5th. BidaskClub upgraded Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Acco Brands Corporation in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, May 18th.
In other news, insider Gregory J. Mccormack sold 25,000 shares of Acco Brands Corporation stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $10.95, for a total transaction of $273,750.00. Following the sale, the insider now owns 63,889 shares in the company, valued at $699,584.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Neal V. Fenwick bought 12,313 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $10.60 per share, for a total transaction of $130,517.80. Following the transaction, the vice president now directly owns 423,311 shares of the company’s stock, valued at approximately $4,487,096.60. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Acco Brands Corporation by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 7,036,464 shares of the industrial products company’s stock worth $92,530,000 after buying an additional 75,844 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in 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 worth $111,000 after buying an additional 2,617 shares during the period. Vanguard Group Inc. boosted its stake in Acco Brands Corporation by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,666,145 shares of the industrial products company’s stock worth $127,109,000 after buying an additional 174,498 shares during the period. Bank of America Corp DE boosted its stake in Acco Brands Corporation by 22.0% in the first quarter. Bank of America Corp DE now owns 397,823 shares of the industrial products company’s stock worth $5,232,000 after buying an additional 71,696 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Acco Brands Corporation by 1.6% in the first quarter. Prudential Financial Inc. now owns 700,016 shares of the industrial products company’s stock worth $9,205,000 after buying an additional 10,800 shares during the period. Institutional investors and hedge funds own 93.12% of the company’s stock.
Acco Brands Corporation (NYSE ACCO) opened at 10.90 on Friday. The company’s 50 day moving average price is $11.39 and its 200-day moving average price is $12.34. Acco Brands Corporation has a one year low of $9.06 and a one year high of $14.75. The company has a market cap of $1.19 billion, a P/E ratio of 21.71 and a beta of 1.30.
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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