Stock Repurchase Plan Authorized by ACCO Brands (ACCO) Board

ACCO Brands (NYSE:ACCO) declared that its board has authorized a share repurchase plan, which allows the company to repurchase $100.00 million in outstanding shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

A number of research firms have weighed in on ACCO. Zacks Investment Research raised shares of ACCO Brands from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday. SunTrust Banks reaffirmed a “hold” rating and issued a $13.00 price objective on shares of ACCO Brands in a research note on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. ACCO Brands currently has an average rating of “Buy” and an average target price of $15.33.

ACCO Brands (ACCO) opened at $13.65 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.09 and a debt-to-equity ratio of 1.39. ACCO Brands has a 12-month low of $10.35 and a 12-month high of $14.75. The firm has a market cap of $1,450.00, a PE ratio of 11.38, a P/E/G ratio of 0.96 and a beta of 1.34.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. ACCO Brands had a net margin of 6.76% and a return on equity of 18.31%. The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $563.27 million. During the same period last year, the firm earned $0.32 earnings per share. The firm’s revenue was up 29.5% on a year-over-year basis. research analysts predict that ACCO Brands will post 1.35 EPS for the current fiscal year.

The company also recently declared a Not Available dividend, which will be paid on Wednesday, March 21st. Investors of record on Thursday, March 1st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, February 28th.

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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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