ACCO Brands Co. (NYSE:ACCO) – Equities research analysts at SunTrust Banks lowered their FY2018 EPS estimates for ACCO Brands in a report released on Tuesday, October 30th. SunTrust Banks analyst W. Chappell now anticipates that the industrial products company will earn $1.17 per share for the year, down from their previous forecast of $1.35. SunTrust Banks also issued estimates for ACCO Brands’ Q1 2019 earnings at $0.07 EPS, Q3 2019 earnings at $0.39 EPS, FY2019 earnings at $1.31 EPS and FY2020 earnings at $1.50 EPS.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). ACCO Brands had a return on equity of 17.30% and a net margin of 7.36%. The firm had revenue of $507.30 million during the quarter, compared to analysts’ expectations of $533.26 million. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. Noble Financial reaffirmed a “buy” rating and issued a $15.00 price objective on shares of ACCO Brands in a research report on Monday, August 6th. Zacks Investment Research raised shares of ACCO Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Finally, ValuEngine raised shares of ACCO Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.00.
Shares of ACCO Brands stock opened at $8.95 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 1.35. ACCO Brands has a 52-week low of $7.39 and a 52-week high of $14.63. The company has a market capitalization of $852.29 million, a PE ratio of 7.52, a PEG ratio of 0.68 and a beta of 1.21.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, November 29th. ACCO Brands’s payout ratio is currently 20.17%.
In related news, Chairman Boris Elisman bought 6,547 shares of the company’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 transaction, the chairman now owns 798,917 shares in the company, valued at $6,167,639.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Pamela R. Schneider bought 3,100 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were bought at an average cost of $8.10 per share, for a total transaction of $25,110.00. Following the transaction, the senior vice president now owns 81,788 shares in the company, valued at approximately $662,482.80. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 19,647 shares of company stock worth $156,253. 4.50% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ACCO. Meeder Asset Management Inc. grew its position in ACCO Brands by 710.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 9,687 shares during the last quarter. Sun Life Financial INC purchased a new stake in ACCO Brands during the 2nd quarter worth approximately $140,000. Hartford Investment Management Co. purchased a new stake in ACCO Brands during the 2nd quarter worth approximately $183,000. Cambridge Investment Research Advisors Inc. grew its position in ACCO Brands by 27.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 5,380 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in ACCO Brands by 90.3% during the 2nd quarter. SG Americas Securities LLC now owns 39,844 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 18,907 shares during the last quarter. 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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