Zacks: Analysts Anticipate ACCO Brands Co. (NYSE:ACCO) Will Post Quarterly Sales of $494.59 Million

Equities analysts forecast that ACCO Brands Co. (NYSE:ACCO) will announce $494.59 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for ACCO Brands’ earnings. The lowest sales estimate is $483.80 million and the highest is $510.77 million. ACCO Brands reported sales of $498.80 million in the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that ACCO Brands will report full-year sales of $1.92 billion for the current financial year, with estimates ranging from $1.91 billion to $1.94 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.92 billion, with estimates ranging from $1.91 billion to $1.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover ACCO Brands.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $393.90 million during the quarter, compared to analysts’ expectations of $391.71 million. ACCO Brands had a return on equity of 15.99% and a net margin of 4.96%. ACCO Brands’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded ACCO Brands from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Monday, May 6th. Noble Financial set a $14.00 price target on ACCO Brands and gave the company a “buy” rating in a research report on Friday, May 3rd. Barrington Research restated a “buy” rating and issued a $11.00 price target on shares of ACCO Brands in a research report on Wednesday, May 8th. Finally, ValuEngine upgraded ACCO Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $11.25.

Shares of ACCO stock traded down $0.07 during mid-day trading on Monday, reaching $7.71. The stock had a trading volume of 474,992 shares, compared to its average volume of 612,175. ACCO Brands has a 12-month low of $6.07 and a 12-month high of $14.63. The stock has a market cap of $794.25 million, a P/E ratio of 6.76, a P/E/G ratio of 0.66 and a beta of 1.90. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 1.33.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 24th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, May 23rd. ACCO Brands’s dividend payout ratio is currently 21.05%.

Several hedge funds have recently made changes to their positions in ACCO. Bank of Montreal Can increased its position in ACCO Brands by 15.2% during the 4th quarter. Bank of Montreal Can now owns 296,375 shares of the industrial products company’s stock worth $2,010,000 after purchasing an additional 39,171 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in ACCO Brands by 17.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 2,032 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in ACCO Brands by 27.4% during the 4th quarter. Xact Kapitalforvaltning AB now owns 29,776 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 6,400 shares in the last quarter. Rhumbline Advisers increased its position in ACCO Brands by 39.0% during the 4th quarter. Rhumbline Advisers now owns 158,691 shares of the industrial products company’s stock worth $1,076,000 after purchasing an additional 44,556 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in ACCO Brands by 13.7% during the 4th quarter. First Mercantile Trust Co. now owns 22,519 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 2,710 shares in the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

About ACCO Brands

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, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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