Brokerages predict that ACCO Brands Co. (NYSE:ACCO) will post $560.32 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for ACCO Brands’ earnings, with the lowest sales estimate coming in at $546.20 million and the highest estimate coming in at $575.36 million. ACCO Brands posted sales of $437.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 28%. The firm is expected to report its next earnings results before the market opens on Wednesday, February 14th.
According to Zacks, analysts expect that ACCO Brands will report full year sales of $560.32 million for the current financial year, with estimates ranging from $1.93 billion to $1.96 billion. For the next year, analysts anticipate that the company will report sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow ACCO Brands.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Monday, October 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. ACCO Brands had a return on equity of 15.99% and a net margin of 3.51%. The business had revenue of $532.20 million for the quarter, compared to the consensus estimate of $529.65 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 23.4% compared to the same quarter last year.
ACCO has been the topic of a number of recent research reports. BidaskClub upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, October 3rd. Finally, SunTrust Banks restated a “hold” rating and set a $13.00 price objective on shares of ACCO Brands in a research report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $15.00.
A number of institutional investors have recently bought and sold shares of ACCO. Royal Bank of Canada lifted its holdings in ACCO Brands by 5.9% during the second quarter. Royal Bank of Canada now owns 6,122,124 shares of the industrial products company’s stock worth $71,323,000 after buying an additional 339,057 shares during the period. Ameriprise Financial Inc. lifted its holdings in ACCO Brands by 35.0% during the third quarter. Ameriprise Financial Inc. now owns 832,693 shares of the industrial products company’s stock worth $9,911,000 after buying an additional 216,020 shares during the period. Northern Trust Corp lifted its holdings in ACCO Brands by 9.5% during the second quarter. Northern Trust Corp now owns 2,428,165 shares of the industrial products company’s stock worth $28,288,000 after buying an additional 210,786 shares during the period. Russell Investments Group Ltd. lifted its holdings in ACCO Brands by 16.6% during the third quarter. Russell Investments Group Ltd. now owns 1,268,126 shares of the industrial products company’s stock worth $15,089,000 after buying an additional 180,698 shares during the period. Finally, Boston Partners lifted its holdings in shares of ACCO Brands by 6.3% during the 3rd quarter. Boston Partners now owns 1,914,787 shares of the industrial products company’s stock valued at $22,786,000 after purchasing an additional 114,308 shares during the last quarter. Institutional investors own 91.17% of the company’s stock.
Shares of ACCO Brands (ACCO) opened at $12.80 on Friday. ACCO Brands has a 52-week low of $10.35 and a 52-week high of $14.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.70. The stock has a market capitalization of $1,342.54, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50.
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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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