$420.45 Million in Sales Expected for ACCO Brands Co. (NYSE:ACCO) This Quarter

Analysts predict that ACCO Brands Co. (NYSE:ACCOGet Rating) will report $420.45 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for ACCO Brands’ earnings, with the highest sales estimate coming in at $420.76 million and the lowest estimate coming in at $420.00 million. ACCO Brands posted sales of $410.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that ACCO Brands will report full year sales of $2.11 billion for the current year, with estimates ranging from $2.10 billion to $2.13 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.16 billion, with estimates ranging from $2.15 billion to $2.16 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow ACCO Brands.

ACCO Brands (NYSE:ACCOGet Rating) last announced its quarterly earnings data on Tuesday, February 15th. The industrial products company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $570.30 million during the quarter, compared to the consensus estimate of $560.93 million. ACCO Brands had a return on equity of 17.43% and a net margin of 5.03%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Friday, February 18th. StockNews.com began coverage on shares of ACCO Brands in a research note on Thursday, March 31st. They set a “buy” rating for the company.

In related news, Director Ronald M. Lombardi purchased 60,000 shares of the stock in a transaction on Thursday, February 17th. The shares were purchased at an average cost of $8.85 per share, with a total value of $531,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Boris Elisman sold 7,335 shares of the stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $9.00, for a total transaction of $66,015.00. The disclosure for this sale can be found here. Insiders sold a total of 216,221 shares of company stock valued at $1,857,793 over the last quarter. 6.30% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in ACCO. Strs Ohio boosted its position in ACCO Brands by 5.6% in the third quarter. Strs Ohio now owns 22,800 shares of the industrial products company’s stock valued at $195,000 after buying an additional 1,200 shares in the last quarter. Voya Investment Management LLC raised its stake in ACCO Brands by 2.1% during the third quarter. Voya Investment Management LLC now owns 57,942 shares of the industrial products company’s stock worth $498,000 after buying an additional 1,211 shares during the last quarter. Mackenzie Financial Corp raised its stake in ACCO Brands by 13.5% during the third quarter. Mackenzie Financial Corp now owns 12,377 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,474 shares during the last quarter. Secure Asset Management LLC raised its stake in ACCO Brands by 11.2% during the fourth quarter. Secure Asset Management LLC now owns 16,690 shares of the industrial products company’s stock worth $138,000 after buying an additional 1,684 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in ACCO Brands by 50.8% in the third quarter. Captrust Financial Advisors now owns 5,575 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 1,878 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ACCO traded up $0.20 during midday trading on Friday, hitting $7.76. 2,157 shares of the stock were exchanged, compared to its average volume of 563,784. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.31. The company has a market capitalization of $751.47 million, a PE ratio of 7.20 and a beta of 1.98. ACCO Brands has a 52-week low of $7.51 and a 52-week high of $9.77. The business’s fifty day simple moving average is $8.26 and its two-hundred day simple moving average is $8.41.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Investors of record on Friday, March 18th were paid a $0.075 dividend. The ex-dividend date was Thursday, March 17th. This represents a $0.30 annualized dividend and a yield of 3.87%. ACCO Brands’s dividend payout ratio (DPR) is currently 28.57%.

About ACCO Brands (Get Rating)

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.

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