Movers and SHAKERS
Friday, May 3, 2019
ACCO Brands Corporation (ACCO)
Can ACCO Brands Maintain the Momentum?
ACCO Brands Corporation designs, manufactures, sources, markets, and sells office products, academic supplies, and calendar products primarily in the United States, Canada, Northern Europe, Brazil, Australia, and Mexico. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Solid 1Q19 Results. ACCO brands reported solid 1Q19 results, exceeding our estimates. Revenue came in at $393.9 million and adjusted EPS at $0.08. We were projecting $381.5 million and $0.06, respectively.
- EMEA and North America Drove Results. EMEA posted a 3.5% comp sales increase and slightly higher operating income, excluding adverse foreign currency. Although North American comp sales fell 2.5%, the decline was significantly less than the sec...
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.