ACCO Brands Co. (NYSE:ACCO) Expected to Post Quarterly Sales of $537.39 Million

Wall Street analysts expect ACCO Brands Co. (NYSE:ACCOGet Rating) to announce $537.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ACCO Brands’ earnings, with the highest sales estimate coming in at $545.00 million and the lowest estimate coming in at $528.20 million. ACCO Brands reported sales of $517.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that ACCO Brands will report full-year sales of $2.12 billion for the current financial year, with estimates ranging from $2.11 billion to $2.14 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.16 billion, with estimates ranging from $2.15 billion to $2.17 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow ACCO Brands.

ACCO Brands (NYSE:ACCOGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. ACCO Brands had a return on equity of 16.57% and a net margin of 5.82%. During the same quarter in the prior year, the firm posted $0.10 earnings per share.

Several research firms have weighed in on ACCO. TheStreet downgraded ACCO Brands from a “b” rating to a “c+” rating in a research note on Wednesday, April 27th. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Thursday. Finally, StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a report on Friday, April 29th.

In related news, SVP Pamela R. Schneider sold 49,735 shares of ACCO Brands stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $8.60, for a total transaction of $427,721.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas W. Tedford sold 92,838 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $8.55, for a total value of $793,764.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,886 shares of company stock worth $1,791,778. 6.10% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of ACCO Brands by 5.2% in the 3rd quarter. BlackRock Inc. now owns 10,147,818 shares of the industrial products company’s stock valued at $87,171,000 after purchasing an additional 503,957 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in ACCO Brands by 200.6% during the 4th quarter. Qube Research & Technologies Ltd now owns 141,444 shares of the industrial products company’s stock worth $1,168,000 after purchasing an additional 94,383 shares during the period. Assenagon Asset Management S.A. purchased a new stake in ACCO Brands during the 4th quarter worth about $2,393,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ACCO Brands by 81.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,219 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 6,833 shares during the period. Finally, Alps Advisors Inc. purchased a new position in shares of ACCO Brands in the 4th quarter valued at about $155,000. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

ACCO stock opened at $7.45 on Friday. ACCO Brands has a 1-year low of $6.96 and a 1-year high of $9.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.68 and a quick ratio of 0.85. The company has a market capitalization of $722.55 million, a price-to-earnings ratio of 6.06 and a beta of 1.90. The business has a 50 day simple moving average of $7.62 and a two-hundred day simple moving average of $8.11.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Friday, May 27th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, May 26th. ACCO Brands’s payout ratio is currently 24.39%.

ACCO Brands Company Profile (Get Rating)

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.

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