ACCO Brands (NYSE:ACCO) Issues Earnings Results
ACCO Brands (NYSE:ACCO) posted its earnings results on Tuesday. The industrial products company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.11, MarketWatch Earnings reports. ACCO Brands had a return on equity of 12.65% and a net margin of 4.73%. The company had revenue of $367.00 million during the quarter, compared to the consensus estimate of $351.90 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue was down 29.3% on a year-over-year basis. ACCO Brands updated its Q3 2020
After-Hours guidance to 0.13-0.19 EPS and its Q3 guidance to $0.13-$0.19 EPS.
ACCO traded down $0.43 during trading on Friday, reaching $6.47. 11,178 shares of the company’s stock were exchanged, compared to its average volume of 496,930. The firm has a fifty day moving average price of $6.64 and a two-hundred day moving average price of $6.95. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. ACCO Brands has a one year low of $3.51 and a one year high of $11.38. The stock has a market capitalization of $614.94 million, a PE ratio of 8.02, a price-to-earnings-growth ratio of 1.75 and a beta of 2.16.
Several brokerages have weighed in on ACCO. Barrington Research began coverage on shares of ACCO Brands in a research note on Tuesday, July 21st. They issued a “buy” rating and a $9.00 price objective for the company. Zacks Investment Research upgraded shares of ACCO Brands from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $9.58.
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.
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