Wall Street brokerages expect ACCO Brands Co. (NYSE:ACCO) to report $514.55 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for ACCO Brands’ earnings, with the highest sales estimate coming in at $525.00 million and the lowest estimate coming in at $502.20 million. ACCO Brands posted sales of $507.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The company is scheduled to issue its next earnings results on Tuesday, October 29th.
On average, analysts expect that ACCO Brands will report full-year sales of $1.97 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.99 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.99 billion, with estimates ranging from $1.95 billion to $2.03 billion. Zacks’ sales averages 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 Tuesday, July 30th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. ACCO Brands had a net margin of 5.43% and a return on equity of 16.06%. The firm had revenue of $518.70 million for the quarter, compared to the consensus estimate of $493.89 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year.
In related news, VP Patrick Buchenroth sold 21,520 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $9.86, for a total value of $212,187.20. Following the completion of the transaction, the vice president now directly owns 93,957 shares in the company, valued at approximately $926,416.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Boris Elisman sold 182,638 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $9.45, for a total transaction of $1,725,929.10. Following the completion of the transaction, the chief executive officer now owns 1,192,014 shares of the company’s stock, valued at $11,264,532.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,539 shares of company stock valued at $2,876,810. Company insiders own 4.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in ACCO Brands by 1.8% during the second quarter. JPMorgan Chase & Co. now owns 5,941,729 shares of the industrial products company’s stock worth $45,693,000 after acquiring an additional 104,622 shares during the period. LSV Asset Management grew its holdings in shares of ACCO Brands by 4.3% during the first quarter. LSV Asset Management now owns 4,515,404 shares of the industrial products company’s stock worth $38,651,000 after buying an additional 184,700 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of ACCO Brands by 6.3% during the second quarter. Royal Bank of Canada now owns 4,119,991 shares of the industrial products company’s stock worth $32,424,000 after buying an additional 243,404 shares in the last quarter. Invesco Ltd. grew its holdings in shares of ACCO Brands by 784.3% during the second quarter. Invesco Ltd. now owns 3,592,375 shares of the industrial products company’s stock worth $28,272,000 after buying an additional 3,186,129 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of ACCO Brands by 1.6% during the first quarter. OppenheimerFunds Inc. now owns 3,218,912 shares of the industrial products company’s stock worth $27,553,000 after buying an additional 51,159 shares in the last quarter. Institutional investors own 94.55% of the company’s stock.
Shares of ACCO Brands stock traded up $0.05 on Monday, reaching $10.07. The stock had a trading volume of 460,157 shares, compared to its average volume of 578,530. The company has a 50 day moving average price of $9.28 and a 200 day moving average price of $8.55. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 1.46. ACCO Brands has a 1 year low of $6.07 and a 1 year high of $12.40. The stock has a market capitalization of $934.02 million, a P/E ratio of 8.83, a P/E/G ratio of 1.14 and a beta of 1.85.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, August 23rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 22nd. ACCO Brands’s dividend payout ratio is currently 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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