KeyCorp Weighs in on ACCO Brands Co.’s FY2019 Earnings (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCO) – Stock analysts at KeyCorp upped their FY2019 earnings estimates for shares of ACCO Brands in a research report issued to clients and investors on Wednesday, July 31st. KeyCorp analyst B. Thomas now forecasts that the industrial products company will earn $1.18 per share for the year, up from their previous estimate of $1.17. KeyCorp also issued estimates for ACCO Brands’ Q4 2019 earnings at $0.42 EPS and FY2020 earnings at $1.30 EPS.

Several other analysts also recently weighed in on ACCO. Barrington Research restated a “buy” rating and issued a $11.00 price target on shares of ACCO Brands in a research note on Wednesday, May 8th. ValuEngine upgraded ACCO Brands from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Friday, August 2nd. Finally, Noble Financial set a $14.00 price objective on ACCO Brands and gave the company a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. ACCO Brands presently has an average rating of “Buy” and a consensus price target of $12.00.

ACCO Brands stock opened at $9.56 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.94 and a quick ratio of 1.20. The stock has a market cap of $943.81 million, a P/E ratio of 8.10, a P/E/G ratio of 0.81 and a beta of 1.89. The stock has a 50 day moving average of $8.08. ACCO Brands has a twelve month low of $6.07 and a twelve month high of $13.35.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $518.70 million for the quarter, compared to the consensus estimate of $493.89 million. ACCO Brands had a return on equity of 16.06% and a net margin of 5.43%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, August 23rd will be given a $0.06 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.24 annualized dividend and a yield of 2.51%. ACCO Brands’s dividend payout ratio (DPR) is presently 21.05%.

A number of hedge funds have recently added to or reduced their stakes in ACCO. Bank of New York Mellon Corp grew its position in shares of ACCO Brands by 83.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,424,320 shares of the industrial products company’s stock worth $9,657,000 after buying an additional 645,978 shares during the period. Great West Life Assurance Co. Can grew its position in shares of ACCO Brands by 23.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 13,338 shares of the industrial products company’s stock worth $87,000 after buying an additional 2,507 shares during the period. Geode Capital Management LLC grew its position in shares of ACCO Brands by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 1,319,061 shares of the industrial products company’s stock worth $8,942,000 after buying an additional 150,253 shares during the period. Principal Financial Group Inc. grew its position in shares of ACCO Brands by 67.7% during the 4th quarter. Principal Financial Group Inc. now owns 57,571 shares of the industrial products company’s stock worth $391,000 after buying an additional 23,234 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of ACCO Brands by 78.2% during the 4th quarter. Two Sigma Advisers LP now owns 246,065 shares of the industrial products company’s stock worth $1,668,000 after buying an additional 107,974 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Rule of 72

Earnings History and Estimates for ACCO Brands (NYSE:ACCO)

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