Brokerages Anticipate ACCO Brands Co. (NYSE:ACCO) Will Announce Quarterly Sales of $420.45 Million – Defense World

Analysts expect that ACCO Brands Co. (NYSE:ACCO – Get Rating) will post sales of $420.45 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for ACCO Brands’ earnings, with estimates ranging from $420.00 million to $420.76 million. ACCO Brands reported sales of $410.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that ACCO Brands will report full year sales of $2.11 billion for the current financial year, with estimates ranging from $2.10 billion to $2.13 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.16 billion, with estimates ranging from $2.15 billion to $2.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ACCO Brands.

ACCO Brands (NYSE:ACCO – Get Rating) last released its earnings results on Tuesday, February 15th. The industrial products company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $570.30 million for the quarter, compared to analysts’ expectations of $560.93 million. ACCO Brands had a return on equity of 17.43% and a net margin of 5.03%. The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share.

A number of brokerages recently issued reports on ACCO. Zacks Investment Research lowered ACCO Brands from a “hold” rating to a “sell” rating in a report on Friday, February 18th. StockNews.com began coverage on ACCO Brands in a report on Thursday, March 31st. They issued a “buy” rating for the company.

In other news, SVP Pamela R. Schneider sold 49,735 shares of the stock in a transaction on Monday, February 28th. The stock was sold at an average price of $8.60, for a total transaction of $427,721.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas W. Tedford sold 92,838 shares of the stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $8.55, for a total value of $793,764.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,221 shares of company stock valued at $1,857,793. 6.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of ACCO Brands by 32.2% in the 1st quarter. First Trust Advisors LP now owns 315,635 shares of the industrial products company’s stock valued at $2,702,000 after acquiring an additional 76,829 shares during the period. Morgan Stanley increased its position in shares of ACCO Brands by 16.0% in the 2nd quarter. Morgan Stanley now owns 469,353 shares of the industrial products company’s stock valued at $4,050,000 after acquiring an additional 64,819 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of ACCO Brands in the 2nd quarter valued at $137,000. Strs Ohio increased its position in shares of ACCO Brands by 5.6% in the 3rd quarter. Strs Ohio now owns 22,800 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 1,200 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $2,612,000. Hedge funds and other institutional investors own 89.90% of the …….

Source: https://www.defenseworld.net/2022/04/16/brokerages-anticipate-acco-brands-co-nyseacco-will-announce-quarterly-sales-of-420-45-million.html

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