Zacks: Brokerages Expect ACCO Brands Co. (ACCO) Will Announce Earnings of $0.36 Per Share

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Analysts expect ACCO Brands Co. (NYSE:ACCO) to report earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for ACCO Brands’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.36. ACCO Brands posted earnings of $0.35 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The firm is scheduled to announce its next quarterly earnings results on Monday, October 29th.

According to Zacks, analysts expect that ACCO Brands will report full year earnings of $1.34 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.35. For the next year, analysts expect that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.42 to $1.50. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for ACCO Brands.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). ACCO Brands had a net margin of 7.02% and a return on equity of 17.95%. The firm had revenue of $498.80 million for the quarter, compared to analysts’ expectations of $493.85 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis.

ACCO has been the topic of a number of recent research reports. Noble Financial initiated coverage on ACCO Brands in a research report on Wednesday, May 2nd. They set a “buy” rating on the stock. BWS Financial set a $18.00 price target on ACCO Brands and gave the company a “buy” rating in a research report on Tuesday, May 1st. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, May 3rd. Barrington Research reaffirmed a “buy” rating and set a $16.00 price target on shares of ACCO Brands in a research report on Thursday, June 14th. Finally, ValuEngine cut ACCO Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. ACCO Brands has an average rating of “Hold” and an average price target of $15.40.

Shares of NYSE ACCO opened at $12.55 on Monday. ACCO Brands has a one year low of $10.65 and a one year high of $14.63. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.15 and a current ratio of 1.74. The firm has a market cap of $1.39 billion, a PE ratio of 10.55, a PEG ratio of 0.97 and a beta of 1.19.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Friday, August 31st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.91%. ACCO Brands’s dividend payout ratio (DPR) is 20.17%.

In related news, SVP Joseph S. Pekala sold 20,473 shares of the stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $13.52, for a total transaction of $276,794.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ACCO. Wells Fargo & Company MN lifted its holdings in ACCO Brands by 15.0% during the 1st quarter. Wells Fargo & Company MN now owns 3,995,400 shares of the industrial products company’s stock worth $50,144,000 after purchasing an additional 520,381 shares in the last quarter. Ancora Advisors LLC lifted its holdings in ACCO Brands by 79.8% during the 1st quarter. Ancora Advisors LLC now owns 1,065,223 shares of the industrial products company’s stock worth $13,368,000 after purchasing an additional 472,704 shares in the last quarter. Millennium Management LLC lifted its holdings in ACCO Brands by 16.6% during the 1st quarter. Millennium Management LLC now owns 2,454,991 shares of the industrial products company’s stock worth $30,810,000 after purchasing an additional 350,240 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in ACCO Brands by 1,058.2% during the 4th quarter. Renaissance Technologies LLC now owns 382,747 shares of the industrial products company’s stock worth $4,670,000 after purchasing an additional 349,700 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. purchased a new stake in ACCO Brands during the 2nd quarter worth about $3,017,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

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, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

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Earnings History and Estimates for ACCO Brands (NYSE:ACCO)

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