Zacks: Analysts Anticipate Acco Brands Corporation (ACCO) Will Announce Quarterly Sales of $538.49 Million
Analysts expect that Acco Brands Corporation (NYSE:ACCO) will post $538.49 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acco Brands Corporation’s earnings. The lowest sales estimate is $523.60 million and the highest is $566.67 million. Acco Brands Corporation reported sales of $431.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.9%. The business is expected to announce its next earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Acco Brands Corporation will report full-year sales of $538.49 million for the current financial year, with estimates ranging from $1.92 billion to $1.98 billion. For the next financial year, analysts expect that the company will post sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Acco Brands Corporation.
Acco Brands Corporation (NYSE:ACCO) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The business had revenue of $490 million during the quarter, compared to analysts’ expectations of $497.17 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis.
ACCO has been the subject of a number of recent research reports. Zacks Investment Research downgraded Acco Brands Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub upgraded Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. ValuEngine upgraded Acco Brands Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, May 18th. Finally, BWS Financial restated a “buy” rating and set a $18.00 target price on shares of Acco Brands Corporation in a research report on Tuesday, July 4th.
TRADEMARK VIOLATION NOTICE: “Zacks: Analysts Anticipate Acco Brands Corporation (ACCO) Will Announce Quarterly Sales of $538.49 Million” was first published by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/09/zacks-analysts-anticipate-acco-brands-corporation-acco-will-announce-quarterly-sales-of-538-49-million.html.
In related news, VP Neal V. Fenwick acquired 12,313 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $10.60 per share, for a total transaction of $130,517.80. Following the completion of the acquisition, the vice president now owns 423,311 shares of the company’s stock, valued at approximately $4,487,096.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kathy D. Schnaedter sold 68,653 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $11.26, for a total value of $773,032.78. Following the completion of the sale, the senior vice president now owns 68,655 shares of the company’s stock, valued at approximately $773,055.30. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Acco Brands Corporation by 16,978.3% in the first quarter. BlackRock Inc. now owns 7,403,606 shares of the industrial products company’s stock worth $97,358,000 after buying an additional 7,360,255 shares in the last quarter. Boston Partners bought a new stake in Acco Brands Corporation during the second quarter worth approximately $20,976,000. Teachers Advisors LLC increased its stake in Acco Brands Corporation by 196.3% in the fourth quarter. Teachers Advisors LLC now owns 1,045,492 shares of the industrial products company’s stock worth $13,644,000 after buying an additional 692,590 shares in the last quarter. Systematic Financial Management LP increased its stake in Acco Brands Corporation by 493.6% in the first quarter. Systematic Financial Management LP now owns 796,030 shares of the industrial products company’s stock worth $10,468,000 after buying an additional 661,930 shares in the last quarter. Finally, Boston Advisors LLC bought a new stake in Acco Brands Corporation during the first quarter worth approximately $5,708,000. Institutional investors and hedge funds own 91.39% of the company’s stock.
Acco Brands Corporation (NYSE ACCO) opened at 11.15 on Wednesday. Acco Brands Corporation has a 52 week low of $9.06 and a 52 week high of $14.75. The company’s 50-day moving average price is $11.62 and its 200 day moving average price is $12.53. The company has a market cap of $1.22 billion, a PE ratio of 22.21 and a beta of 1.30.
About Acco Brands Corporation
ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acco Brands Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acco Brands Corporation and related companies with MarketBeat.com's FREE daily email newsletter.