ACCO Brands Co. (NYSE:ACCO) – Equities research analysts at Barrington Research increased their FY2019 EPS estimates for ACCO Brands in a note issued to investors on Wednesday, May 8th. Barrington Research analyst K. Steinke now anticipates that the industrial products company will post earnings per share of $1.15 for the year, up from their previous estimate of $1.14. Barrington Research currently has a “Buy” rating and a $11.00 price target on the stock.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of ACCO Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. ValuEngine lowered shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a research report on Friday, March 1st. Finally, Noble Financial set a $14.00 price objective on shares of ACCO Brands and gave the company a “buy” rating in a research report on Friday, May 3rd. One research 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. ACCO Brands has an average rating of “Hold” and an average target price of $11.50.
ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $393.90 million for the quarter, compared to analysts’ expectations of $391.71 million. ACCO Brands had a net margin of 4.96% and a return on equity of 15.99%. ACCO Brands’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS.
Several large investors have recently bought and sold shares of ACCO. Boston Partners boosted its position in shares of ACCO Brands by 433.8% during the 1st quarter. Boston Partners now owns 15,997,032 shares of the industrial products company’s stock valued at $663,831,000 after purchasing an additional 13,000,164 shares in the last quarter. Norges Bank bought a new position in shares of ACCO Brands during the 4th quarter valued at about $13,137,000. Bank of New York Mellon Corp boosted its position in shares of ACCO Brands by 83.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,424,320 shares of the industrial products company’s stock valued at $9,657,000 after purchasing an additional 645,978 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ACCO Brands by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,903,441 shares of the industrial products company’s stock valued at $66,708,000 after purchasing an additional 449,077 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of ACCO Brands during the 4th quarter valued at about $2,573,000. Institutional investors own 92.66% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 24th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.24 annualized dividend and a dividend yield of 2.92%. ACCO Brands’s dividend payout ratio (DPR) is 21.05%.
ACCO Brands Company Profile
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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