Acco Brands Corporation (ACCO) Issues FY17 Earnings Guidance

Acco Brands Corporation (NYSE:ACCO) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.07-1.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.08. The company issued revenue guidance of $1.90-1.96, compared to the consensus revenue estimate of $1.94 billion.

A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Acco Brands Corporation from a strong sell rating to a sell rating in a research report on Tuesday, August 8th. ValuEngine lowered shares of Acco Brands Corporation from a buy rating to a hold rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Acco Brands Corporation from a hold rating to a buy rating and set a $12.00 target price on the stock in a research report on Thursday, August 3rd. Finally, BWS Financial reiterated a buy rating and set a $18.00 target price on shares of Acco Brands Corporation in a research report on Tuesday, July 4th.

Acco Brands Corporation (NYSE ACCO) remained flat at $10.90 during midday trading on Friday. The company had a trading volume of 815,330 shares. The stock has a market cap of $1.19 billion, a PE ratio of 21.71 and a beta of 1.30. The company has a 50 day moving average price of $11.58 and a 200-day moving average price of $12.48. Acco Brands Corporation has a one year low of $9.06 and a one year high of $14.75.

Acco Brands Corporation (NYSE:ACCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The business had revenue of $490 million during the quarter, compared to analyst estimates of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, analysts expect that Acco Brands Corporation will post $1.10 EPS for the current year.

In other news, VP Neal V. Fenwick bought 12,313 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average cost of $10.60 per share, with a total value of $130,517.80. Following the completion of the transaction, the vice president now owns 423,311 shares of the company’s stock, valued at approximately $4,487,096.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kathy D. Schnaedter sold 68,653 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $11.26, for a total value of $773,032.78. Following the completion of the transaction, the senior vice president now directly owns 68,655 shares in the company, valued at $773,055.30. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

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Acco Brands Corporation Company Profile

ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.

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