ACCO Brands Co. (ACCO) to Post FY2018 Earnings of $1.40 Per Share, SunTrust Banks Forecasts
ACCO Brands Co. (NYSE:ACCO) – Equities researchers at SunTrust Banks upped their FY2018 earnings per share (EPS) estimates for shares of ACCO Brands in a research report issued on Monday. SunTrust Banks analyst W. Chappell now anticipates that the industrial products company will earn $1.40 per share for the year, up from their prior forecast of $1.25. SunTrust Banks currently has a “Hold” rating and a $13.00 price target on the stock.
A number of other research analysts have also recently commented on the company. Zacks Investment Research raised ACCO Brands from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, January 3rd. BidaskClub raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Friday, October 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. ACCO Brands has an average rating of “Buy” and an average target price of $15.00.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. ACCO Brands had a return on equity of 15.99% and a net margin of 3.51%. The company had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $529.65 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. increased its stake in ACCO Brands by 37.2% in the 3rd quarter. Eqis Capital Management Inc. now owns 21,931 shares of the industrial products company’s stock worth $261,000 after acquiring an additional 5,945 shares during the last quarter. JPMorgan Chase & Co. increased its stake in ACCO Brands by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,126,210 shares of the industrial products company’s stock worth $83,019,000 after acquiring an additional 89,746 shares during the last quarter. Vanguard Group Inc. increased its stake in ACCO Brands by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 9,716,711 shares of the industrial products company’s stock worth $113,200,000 after acquiring an additional 50,566 shares during the last quarter. Numeric Investors LLC bought a new stake in ACCO Brands in the 2nd quarter worth approximately $362,000. Finally, IndexIQ Advisors LLC increased its stake in ACCO Brands by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 65,910 shares of the industrial products company’s stock worth $784,000 after acquiring an additional 29,907 shares during the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.
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ACCO Brands 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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