ACCO Brands (ACCO) Updates FY19 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.10-1.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.30. The company issued revenue guidance of $1.88-1.94 billion, compared to the consensus revenue estimate of $1.99 billion.ACCO Brands also updated its FY 2019 guidance to $1.10-1.20 EPS.

ACCO Brands stock opened at $9.18 on Wednesday. ACCO Brands has a one year low of $6.07 and a one year high of $14.63. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.63 and a quick ratio of 1.03. The firm has a market capitalization of $900.00 million, a PE ratio of 7.71, a P/E/G ratio of 0.66 and a beta of 1.80.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Wednesday, February 13th. The industrial products company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The company had revenue of $529.00 million during the quarter, compared to the consensus estimate of $553.42 million. During the same period in the previous year, the business earned $0.48 earnings per share. ACCO Brands’s revenue was down 6.7% on a year-over-year basis. Analysts anticipate that ACCO Brands will post 1.17 EPS for the current fiscal year.

A number of brokerages recently issued reports on ACCO. Barrington Research set a $13.00 price objective on ACCO Brands and gave the stock a buy rating in a research report on Monday, November 5th. TheStreet downgraded ACCO Brands from a b- rating to a c+ rating in a research report on Friday, November 16th. Finally, Zacks Investment Research upgraded ACCO Brands from a sell rating to a hold rating in a research report on Tuesday, January 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $15.25.

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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.

Further Reading: Quiet Period Expirations

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