May 27, 2022

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Brokerages Expect ACCO Brands Co. (NYSE:ACCO) to Post $0.42 EPS

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Equities research analysts expect ACCO Brands Co. (NYSE:ACCOGet Rating) to post earnings per share of $0.42 for the current quarter, Zacks reports. Three analysts have made estimates for ACCO Brands’ earnings. The lowest EPS estimate is $0.40 and the highest is $0.44. ACCO Brands reported earnings per share of $0.43 in the same quarter last year, which suggests a negative year-over-year growth rate of 2.3%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that ACCO Brands will report full-year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.55 to $1.60. For the next year, analysts forecast that the business will report earnings of $1.76 per share, with EPS estimates ranging from $1.72 to $1.79. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow ACCO Brands.

ACCO Brands (NYSE:ACCOGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The industrial products company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. ACCO Brands had a net margin of 5.82% and a return on equity of 16.57%. During the same period in the prior year, the firm earned $0.10 earnings per share.

A number of equities analysts have issued reports on ACCO shares. TheStreet cut shares of ACCO Brands from a “b” rating to a “c+” rating in a research report on Wednesday, April 27th. StockNews.com cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Zacks Investment Research upgraded shares of ACCO Brands from a “sell” rating to a “hold” rating in a research report on Friday, April 29th.

In other news, COO Thomas W. Tedford sold 92,838 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $8.55, for a total value of $793,764.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Pamela R. Schneider sold 49,735 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $8.60, for a total transaction of $427,721.00. The disclosure for this sale can be found here. Insiders have sold 216,221 shares of company stock worth $1,857,793 in the last three months. 6.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of ACCO Brands in the fourth quarter worth $38,397,000. Norges Bank bought a new stake in shares of ACCO Brands in the fourth quarter worth $7,097,000. Millennium Management LLC grew its holdings in shares of ACCO Brands by 212.6% in the fourth quarter. Millennium Management LLC now owns 952,410 shares of the industrial products company’s stock worth $7,867,000 after acquiring an additional 647,705 shares during the period. Easterly Investment Partners LLC bought a new stake in shares of ACCO Brands in the third quarter worth $4,833,000. Finally, BlackRock Inc. grew its holdings in shares of ACCO Brands by 5.2% in the third quarter. BlackRock Inc. now owns 10,147,818 shares of the industrial products company’s stock worth $87,171,000 after acquiring an additional 503,957 shares during the period. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

ACCO Brands stock opened at $7.12 on Thursday. The firm has a fifty day simple moving average of $7.96 and a two-hundred day simple moving average of $8.27. ACCO Brands has a twelve month low of $7.05 and a twelve month high of $9.77. The company has a market capitalization of $690.57 million, a PE ratio of 5.79 and a beta of 1.90. The company has a quick ratio of 0.85, a current ratio of 1.68 and a debt-to-equity ratio of 1.26.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Friday, May 27th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 4.21%. The ex-dividend date is Thursday, May 26th. ACCO Brands’s payout ratio is currently 24.39%.

ACCO Brands Company Profile (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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