Analysts Expect ACCO Brands Co. (NYSE:ACCO) Will Announce Quarterly Sales of $534.55 Million

Wall Street brokerages forecast that ACCO Brands Co. (NYSE:ACCO) will report sales of $534.55 million for the current quarter, according to Zacks. Five analysts have provided estimates for ACCO Brands’ earnings, with the highest sales estimate coming in at $541.00 million and the lowest estimate coming in at $524.50 million. ACCO Brands posted sales of $529.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The company is expected to issue its next earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that ACCO Brands will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.96 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.96 billion, with estimates ranging from $1.94 billion to $1.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ACCO Brands.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). ACCO Brands had a return on equity of 15.40% and a net margin of 5.05%. The company had revenue of $505.70 million for the quarter, compared to the consensus estimate of $517.63 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was down .3% compared to the same quarter last year.

Several equities research analysts have weighed in on the company. TheStreet raised ACCO Brands from a “c+” rating to a “b-” rating in a research note on Wednesday, August 21st. ValuEngine lowered ACCO Brands from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 30th. Noble Financial restated a “buy” rating and set a $14.00 target price on shares of ACCO Brands in a research report on Thursday, August 8th. Finally, Zacks Investment Research upgraded ACCO Brands from a “sell” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

NYSE ACCO traded down $0.02 during trading hours on Friday, hitting $9.37. 330,450 shares of the company were exchanged, compared to its average volume of 648,138. The stock has a 50-day moving average price of $9.63 and a 200 day moving average price of $8.81. The company has a quick ratio of 0.96, a current ratio of 1.62 and a debt-to-equity ratio of 1.26. ACCO Brands has a 52 week low of $6.07 and a 52 week high of $10.26. The stock has a market cap of $910.71 million, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.16 and a beta of 1.77.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 29th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, November 27th. This is a positive change from ACCO Brands’s previous quarterly dividend of $0.06. ACCO Brands’s payout ratio is 21.05%.

In other ACCO Brands news, Director Robert J. Keller sold 121,100 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $9.14, for a total transaction of $1,106,854.00. Following the completion of the transaction, the director now owns 355,847 shares in the company, valued at $3,252,441.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Boris Elisman sold 182,638 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $9.45, for a total value of $1,725,929.10. Following the transaction, the chief executive officer now owns 1,192,014 shares of the company’s stock, valued at approximately $11,264,532.30. The disclosure for this sale can be found here. Insiders have sold 405,662 shares of company stock valued at $3,793,883 in the last 90 days. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of ACCO Brands by 12.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 102,980 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 11,487 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ACCO Brands in the third quarter valued at approximately $128,000. First Trust Advisors LP boosted its holdings in shares of ACCO Brands by 4.5% in the third quarter. First Trust Advisors LP now owns 296,593 shares of the industrial products company’s stock valued at $2,927,000 after purchasing an additional 12,676 shares during the period. Wright Investors Service Inc. purchased a new stake in shares of ACCO Brands in the third quarter valued at approximately $482,000. Finally, California Public Employees Retirement System boosted its holdings in shares of ACCO Brands by 51.7% in the third quarter. California Public Employees Retirement System now owns 224,979 shares of the industrial products company’s stock valued at $2,221,000 after purchasing an additional 76,632 shares during the period. Hedge funds and other institutional investors own 91.49% of the company’s stock.

About ACCO Brands

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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