ACCO Brands (ACCO) Announces Earnings Results

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ACCO Brands (NYSE:ACCO) posted its earnings results on Tuesday. The industrial products company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01), MarketWatch Earnings reports. The firm had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. ACCO Brands had a return on equity of 17.95% and a net margin of 7.02%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. ACCO Brands updated its FY18 guidance to $1.15-1.20 EPS.

Shares of NYSE ACCO traded down $2.55 during trading on Tuesday, reaching $7.42. The company had a trading volume of 43,053 shares, compared to its average volume of 504,353. ACCO Brands has a twelve month low of $9.59 and a twelve month high of $14.63. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 0.75 and a beta of 1.21. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 1.35.

A number of analysts have commented on the company. Zacks Investment Research downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Noble Financial reiterated a “buy” rating and set a $15.00 target price on shares of ACCO Brands in a research report on Monday, August 6th. Finally, ValuEngine downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. ACCO Brands currently has an average rating of “Hold” and an average target price of $15.40.

In other news, SVP Gregory J. Mccormack sold 15,678 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $12.42, for a total value of $194,720.76. Following the completion of the transaction, the senior vice president now directly owns 81,079 shares of the company’s stock, valued at $1,007,001.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.10% 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, 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 for ACCO Brands (NYSE:ACCO)

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