ACCO Brands Co. (NYSE:ACCO) – Equities researchers at SunTrust Banks cut their Q4 2018 earnings estimates for ACCO Brands in a report issued on Tuesday, October 30th. SunTrust Banks analyst W. Chappell now forecasts that the industrial products company will earn $0.43 per share for the quarter, down from their previous estimate of $0.58. SunTrust Banks also issued estimates for ACCO Brands’ Q4 2019 earnings at $0.50 EPS.
ACCO Brands (NYSE:ACCO) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). ACCO Brands had a return on equity of 17.30% and a net margin of 7.36%. The business had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. During the same period in the previous year, the company earned $0.35 EPS. ACCO Brands’s quarterly revenue was down 4.7% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of ACCO Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Noble Financial reissued a “buy” rating and set a $15.00 price target on shares of ACCO Brands in a research report on Monday, August 6th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.00.
Shares of ACCO Brands stock traded up $0.41 during trading hours on Friday, reaching $8.89. 8,264 shares of the company’s stock were exchanged, compared to its average volume of 638,362. ACCO Brands has a 1 year low of $7.39 and a 1 year high of $14.63. The firm has a market capitalization of $852.29 million, a price-to-earnings ratio of 7.44, a PEG ratio of 0.68 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.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 2.70%. ACCO Brands’s payout ratio is 20.17%.
In related news, Chairman Boris Elisman bought 6,547 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $7.72 per share, with a total value of $50,542.84. Following the completion of the transaction, the chairman now directly owns 798,917 shares of the company’s stock, valued at approximately $6,167,639.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory J. Mccormack sold 15,678 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the completion of the transaction, the senior vice president now directly owns 81,079 shares in the company, valued at approximately $1,007,001.18. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ACCO. Dalton Greiner Hartman Maher & Co. acquired a new position in ACCO Brands in the second quarter valued at about $3,017,000. Hartford Investment Management Co. purchased a new stake in ACCO Brands during the second quarter worth about $183,000. Cornerstone Wealth Management LLC purchased a new stake in ACCO Brands during the second quarter worth about $1,152,000. Dumont & Blake Investment Advisors LLC purchased a new stake in ACCO Brands during the second quarter worth about $705,000. Finally, First Trust Advisors LP increased its stake in ACCO Brands by 6.1% during the second quarter. First Trust Advisors LP now owns 198,056 shares of the industrial products company’s stock worth $2,743,000 after purchasing an additional 11,454 shares during the period. 91.92% of the stock is currently owned by institutional investors.
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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