Thursday, March 11, 2021

Bassett Furniture (BSET)
Orders Continue to be Strong; Raising PT

Bassett Furniture Industries Inc is a manufacturer, importer, and retailer of home furnishings products in the United States. It operates through the following segments: The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of company-owned stores. The Logistical Services segment offers shipping, delivery, and warehousing services.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q Wholesale Orders. Yesterday, Bassett Furniture reported wholesale orders for the fiscal first quarter ended February 27th of $83.0 million, a 44% increase over the prior year period, which was before the COVID crisis hit. Wholesale backlog has now increased to $67.5 million, up 362% year-over-year but also up a significant 23% over the backlog as of November 28, 2020. We believe this backlog is the highest level in probably 20 plus years.


Expanding Manufacturing.  To take advantage of the strong order book and to reduce the large backlog, Bassett also announced that it is in negotiations to lease a 123,000 square foot manufacturing facility near its current facilities in Newton, North Carolina with manufacturing expected to commence by June 2021. We anticipate management providing additional detail about the potential new facility …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

Party On! 1-800-FLOWERS.COM, Inc. Unwraps New Birthday Gifting Hub

 

Exclusive Gifts, Party Decor, and Digital Resources Provide Customers with Thoughtful Ideas to Bring Happiness to Everyone’s Special Day

Company to Donate 20% of the Net Proceeds* from Each Gift Purchased from Specially Curated BIRTHYAY! Gifts Collection to Smile Farms®, its Signature Philanthropic Partner

MELVILLE, N.Y.–(BUSINESS WIRE)–CARLE PLACE, N.Y., March 10, 2021 /PRNewswire/ — Today, 1-800-FLOWERS.COM, Inc. (NASDAQ: CMTL) introduced a new hub for birthday gifting, providing customers with thoughtful ways to celebrate the important people in their lives. A birthday gift guide features trending products and unique offerings from across the company’s family of brands, including special floral bouquets, bountiful gift baskets, customized décor, and gourmet treats. In addition, customers can shop from a specially curated birthday gifts collection that helps give back to the differently abled community through job creation and empowerment. Plus, engaging digital content and fun resources provide inspiration for creating memorable moments with friends and loved ones, whether near or far.

“During this time of virtual celebrations, the need for people to express and connect has led to an increased consumer demand for products and services to help commemorate important occasions such as birthdays,” says Alfred Palomares, Vice President, Merchandising, 1-800-Flowers.com. “We are excited to provide our customers with creative solutions from across our family of brands to enhance the celebratory experience, whether through intimate gatherings, online bashes, or drive-by car parades.”

 

 

View original release at 1-800-FLOWERS.COM

Source: 1-800-FLOWERS.COM, Inc.

Monday, March 08, 2021

1-800-Flowers.com (FLWS)
Are Investors Underestimating This Ecommerce Play?

1-800-FLOWERS.COM, Inc. is the leading provider of gourmet and floral gifts for all occasions. For nearly 40 years, 1-800-FLOWERS® has been helping deliver smiles for customers with gifts for every occasion, including fresh flowers, premium, gift-quality fruits, and other gourmet items from Harry & David®, popcorn and specialty treats from The Popcorn Factory®; cookies and baked gifts from Cheryl’s®; premium chocolates and confections from Fannie May®; gift baskets and towers from 1-800-Baskets.com®; premium English muffins and other breakfast treats from Wolferman’s; carved fresh fruit arrangements from FruitBouquets.com; and top quality steaks and chops from Stock Yards®. The Company’s BloomNet® international floral wire service provides a broad range of quality products and value-added services designed to help professional florists grow their businesses profitably.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Virtual NDR highlights. This report highlights a Virtual Non Deal Road Show in a fireside chat format held last week with CEO Chris McCann. A rebroadcast of the event may be found here. Topics that were discuss include: the enhanced revenues during the pandemic, management’s expectation of continued double digit revenue and cash flow growth, a possible name change to incorporate all of the company’s brands, impact from the severe weather in Texas, and the large valuation gap with its ecommerce peer group.


Revenue and cash flow growth on top of the pandemic lift.  The company appears sanguine about the prospect of double digit revenue and cash flow growth riding the wave of a change in consumer behavior towards ecommerce, from product expansion in Pmall, Harry & David, and through acquisitions to append to the platform of Pmall, Plus, the company plans to benefit from the way it engages with its …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

Thursday, March 04, 2021

Schwazze (SHWZ)
Completes Star Buds Acquisition

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Acquisition. Yesterday, Schwazze announced the acquisition of the remaining five Star Buds locations. The Company now owns and operates 17 retail dispensary locations in the Denver metro and southern Colorado region. Total cost for the final Star Buds locations was $72.3 million, comprised of $27.5 million in cash, $26.9 million in sellers’ notes, and $17.9 million of preferred stock. In total, Star Buds cost $118.7 million, comprised of $44.9 million in cash, $44.3 million in sellers’ notes, and $29.5 million of preferred stock.


Financing.  On Monday, Schwazze announced a financing round of $34 million private placement with CRW Capital and an affiliate of Dye Capital as well as other unaffiliated investors. Schwazze also entered into $15 million of debt financing, $10 million funded immediately and $5 million to be funded as part of the closing of an identified acquisition …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

Wednesday, March 03, 2021

ACCO Brands Corporation (ACCO)
Note Offering

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. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Offering. On March 1st, ACCO announced a private offering of $575 million 4.25% senior unsecured notes due 2029. Proceeds from the offering will be used to redeem all $375 million 5.25% outstanding senior unsecured notes due December 2024. The balance of the funds will be used to repay a portion of the outstanding borrowings under the revolving credit facility, reportedly $180 million, and to pay fees and expenses associated with the offering. The company expects to close the offering on March 15, 2021, subject to customary closing conditions.


Positive.  Given the Company is swapping out higher interest cost debt with lower cost debt, extending the maturity profile, and feeing up some portion of the credit facility, we view the offering as a positive for ACCO. If we assume $180 million is used to pay down the revolver, we calculate the new weighted average interest rate to be about 3.58%, compared to 3.77% at year-end. There will be about …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

Schwazze Completes Acquisition of Five Remaining Star Buds Dispensaries in Colorado

 

Colorado Cannabis Leader’s Retail Footprint Now Expands to 17 Locations Across the Denver Metro and Southern Region of the State

Pro Forma Revenue for Schwazze and its Two Acquisitions (Mesa Organics and Star Buds) in 2020 is Estimated at $95 Million

DENVER–(BUSINESS WIRE)–Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ) (“Schwazze” or “the Company”), today announced that it has closed on the asset purchase of the five Star Buds dispensaries located in Colorado that it had not already previously acquired. The acquired dispensaries are located in Aurora (2), Denver, Louisville, and Westminster.

Total consideration was approximately $72.3 million, consisting of $27.5 million in cash, $26.9 million in sellers’ notes, and $17.9 million in Preferred Stock (at a price of $1,000 per share).

Star Buds is a recognized and successful retail cannabis operator in the United States and home to a wide selection of strains, concentrates, edibles, tinctures, and best-in-class customer service. Inclusive of this transaction, Schwazze now owns and operates all 13 Star Buds locations in Colorado and its retail footprint now includes 17 dispensary locations in the Denver metro and southern Colorado region.

For 2020, the 13 Star Buds retail dispensaries generated total revenue of approximately $70 million and net income in the range of approximately 40% of revenue. Together with Schwazze and the proforma revenue for 2020 Mesa Organics Ltd, acquired by Schwazze in April 2020, total 2020 proforma revenue is estimated to be approximately $95 million on a combined basis.

The Company will be providing 2021 guidance during its 2020 year-end conference call near the end of March.

“We are excited to have completed our acquisition of Star Buds Colorado, a highly respected, innovative and trusted retail operation characterized by high quality products and its budtenders’ commitment to customers and cannabis expertise. Our intention now is to integrate these five locations, utilizing our proven integration playbook that streamlines the M&A process and drives operational and financial synergies. We are looking forward to growing the Star Buds brand through internal and external methods,” said Justin Dye, Chief Executive Officer of Schwazze.

Transaction Background

On June 8, 2020, Schwazze announced that it had reached definitive agreements to acquire all 13 Star Buds locations in Colorado, represented by 13 different ownership groups and agreements. On December 21, 2020, Schwazze announced the closing of the asset purchase of six Star Buds Colorado retail locations, and on February 4, 2021, Schwazze announced the closing of the asset purchase of an additional two Star Buds Colorado retail locations.

Schwazze is the leading vertically integrated cannabis holding company in Colorado with a portfolio consisting of top-tier licensed brands, spanning: cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line, all under one entity. In April 2020, Schwazze was the first publicly traded company to complete an acquisition following the new legislation of Colorado House Bill 19-1090 which allowed for public company ownership of cannabis operations. The Company’s inaugural acquisition included the purchase of Mesa Organics, a Southern Colorado dispensary chain with locations in Pueblo, Ordway, Rocky Ford, and Las Animas as well as Purplebee’s, a leading pure CO2 and ethanol extractor and manufacturer.

DelMorgan & Co. served as lead financial advisor in connection with Schwazze’s financing of the transaction, including sourcing the equity and debt capital and providing fairness opinions to Schwazze in connection with the financing.

About Schwazze

Schwazze (OTCQX: SHWZ) is focused on building the premier vertically integrated cannabis company in Colorado. The company’s leadership team has deep expertise in mainstream CPG, retail, and product development at Fortune 500 companies as well as in the cannabis sector. The organization has a high-performance culture and a focus on analytical decision making, supported by data. Customer-centric thinking inspires Schwazze’s strategy and provides the foundation for the Company’s operational playbooks.

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” , or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; and (v) actual shareholder returns. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Contacts

Investors
Raphael Gross, ICR
ir@schwazze.com
203-682-8253

Media
Julie Suntrup, Schwazze
Vice President | Marketing & Merchandising
julie.suntrup@schwazze.com
303-371-0387

Source: Schwazze

Tuesday, March 02, 2021

1-800-Flowers.com (FLWS)
In The League Of Leading Ecommerce Companies

1-800-FLOWERS.COM, Inc. is the leading provider of gourmet and floral gifts for all occasions. For nearly 40 years, 1-800-FLOWERS® has been helping deliver smiles for customers with gifts for every occasion, including fresh flowers, premium, gift-quality fruits, and other gourmet items from Harry & David®, popcorn and specialty treats from The Popcorn Factory®; cookies and baked gifts from Cheryl’s®; premium chocolates and confections from Fannie May®; gift baskets and towers from 1-800-Baskets.com®; premium English muffins and other breakfast treats from Wolferman’s; carved fresh fruit arrangements from FruitBouquets.com; and top quality steaks and chops from Stock Yards®. The Company’s BloomNet® international floral wire service provides a broad range of quality products and value-added services designed to help professional florists grow their businesses profitably.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Upcoming fireside chat. Chris McCann, CEO & President of 1800Flowers.com will be hosting an investor presentation in a fireside chat format on Wednesday, March 3 at 2pm ET. Investors may register here. Chris is expected to cover a range of topics including the recent Texas weather impact, the post Covid environment, market share gains in its consumer floral division, future acquisitions, and more.


Confident in future growth. Management is expected to highlight its expectation to grow revenues and cash flow near double digit rates in spite of the enhanced revenue and cash flow growth it achieved during the Pandemic. Revenue and cash flow growth rates are certain to slow against….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

 

eSports as an Interesting Investment Within a Portfolio

 

One of the guiding principles when making an investment decision is to balance the risks against the potential benefits. So, it’s important to evaluate where you intend to invest. It’s not uncommon for evaluations to exclude newer industries with promise in favor of an industry with stability, such as energy, finance, or manufacturing. That said, when an industry shows that it is viable as an investment, you should consider jumping on the chance before more investors take the lion’s share of the industry profit. eSports may be such an industry.

 

Unprecedented Growth

Over the past decade, eSports has been one of the fastest-growing industries. The growth can be attributed to a number of factors, one of the most important being the growth of technology. Networking advancements, especially the introduction and implementation of 5G technology, cloud computing, and online streaming, are some of the infrastructure changes that have played a significant role in the growth of eSports as an industry. However, the most influential technological advancements are no doubt virtual and augmented realities, which are every gamer’s dream.

 

eSports is a global industry with billions of fans in the Asia-Pacific, European, Australian, and North American regions. For instance, in Canada, the industry is projected to make $23 million by the end of this year. With growth like that, one can expect that in a few years, Canada could compete with China, which rakes in about $27 billion in revenue from online gaming alone, eSports included. The United States has a high percentage of the global market share since most eSports leagues infrastructure is hosted there. Additionally, it has the largest number of eSports leagues in the world. Some of the most popular leagues include PuBG, World of Warcraft, Fortnite, and League of Legends, to name a few. So, how exactly has such a fast growth come about and can we expect the rate of growth to be maintained in the future?

 

Increased Number of
Participants

Over the years, the number of professional video game players, eSports fans, video game companies, and sponsors has increased. In the past, playing video games was rarely seen as a venue to make money. In fact, most of the people who earned money playing games did so through the testing phase of the games or when they discovered bugs in the game. However, thanks to eSports, people started to view playing video games as a source of revenue, which meant an increasing number of players. Of course, the increase in players directly leads to an increase in fans, games, and sponsors in a virtuous cycle. The marked increase in sponsors particularly, is a good reason why you should include eSports in your investment strategy. Is this something we can expect to see in the future? The answer is probably “yes!” As the games grow more sophisticated and the technology advances, there will be more players, fans and sponsors.

 

Increased Access

One of the most significant challenges for eSports is that it is heavily reliant on good internet connectivity. Put another way, 3G was good but not ideal and 4G was great but not efficient enough. 5G is where the real fun begins, and that’s where most gamers are investing. Of course, it is expected that there will be better connectivity in the future, and as the connectivity increases, so too will the growth of eSports.

 

A Viable Alternative to Traditional
Sports

There are millions of people out there who have the love and passion for traditional sports such as basketball and soccer, but cannot play professionally for one reason or the other. That’s where eSports wins. With eSports, you don’t have to meet specific requirements to play. In fact, in most cases, all you need is good internet connectivity, a machine that supports heavy gaming, and a game. Your popularity and subsequent career all depend on how well you play, but you can get started at any time you want to. That means that the market for eSports will always be existent.

 

Affordability

One of the limiting factors for eSports in its early days was the expense. Computers that supported heavy gaming, internet connectivity, and streaming equipment were all unaffordable to most people. However, as technology advances, it also grows more accessible and affordable. Right now it is possible to buy a complete gaming system for $800 to $2,000 or you can look up how to DIY your own gaming system affordably.

 

Take-Away

Before making an investment one should review all the information they can uncover, and review it against other options including cash. More importantly, recognize the potential that eSports companies have and, if a fit, make the move while the segment of the industry is still in the growth phase.

 

Suggested Reading:

Are Meme
Stocks Improving Flawed Markets?

Esports
Entertainment Research Report Released February 17, 2021

Winners
and Losers as Interest rates Shift Investor Focus

 

Virtual Road Show Series – Tomorrow at 2pm EST Join 1-800-FLOWERS.COM, Inc. President & CEO Chris McCann for this exclusive fireside chat with Noble Capital Markets senior research analyst Michael Kupinski, followed by a Q&A session featuring questions taken from the audience. Registration is free and open to all investors, at any level. Register Now  |  View All Upcoming Road Shows

 

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Thursday, February 18, 2021

ACCO Brands Corporation (ACCO)
Post Call Commentary

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. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

More Consumer Facing. We continue to be impressed with ACCO’s transformation to a more consumer products oriented Company. While we believe ACCO will continue to service the commercial products business, the consumer brands strategy should result in higher top line growth over time. The move also has helped strengthen, improve, and diversify its business. Greater geographic, end market, and product diversification is resulting in a business that is more profitable, more resilient, and more immune to shocks that may occur in a particular geography or product line. We believe the Company is well positioned to benefit as worldwide economies improve from the COVID malaise.


As Seen in 2020 Operating Results.  Kensington computer accessories revenues were up strong double digits, while sales of TruSens air purifiers jumped to approximately $20 million in 2020 from $2 million in 2019. In terms of channels, consumer oriented channels such as e-tail, up 17%, and tech specialist, up 31%, showed strength while commercial and B2B channels, were down 25%. Retail and mass …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

Wednesday, February 17, 2021

ACCO Brands Corporation (ACCO)
Fourth Quarter Results In-line with Estimates

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. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q20 Results. ACCO Brands reported fourth quarter revenue of $460 million, down 14% y-o-y. EPS totaled $0.31 versus $0.44 a year ago. Adjusted EPS was $0.32 compared to $0.46 in 4Q19. We had forecast revenue of $456 million, EPS of $0.30 and adjusted EPS of $0.28. For the full year, ACCO reported revenue of $1.66 billion, down 15%, EPS of $0.65 versus $1.06, and adjusted EPS of $0.70 versus $1.20 in 2019. PowerA added $8 million to revenue for the year.


EMEA 4Q Driving Force.  EMEA posted a strong 4Q with net sales of $171.7 million, up 6%, although down 1% on a comparable basis. Since the 2Q20 nadir, EMEA has posted strong sequential top line growth with revenues rising from $88.3 million in 2Q to $136.4 million in Q3 to $171.7 million in Q4. Sell through of computer accessories, shredders, air purifiers, and DIY tools drove the improved …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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. 

Wednesday, February 17, 2021

Esports Entertainment Group, Inc. (GMBL)
Putting The Pieces Together

Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company’s principal business operations include design, develop and test wagering systems.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Fiscal Q2 in line. Total revenues of $2.36 million was in line with out estimate of $2.2 million. Adjusted EBITDA of a loss of $3.4 million was slightly better than our $3.8 million loss estimate. The quarter had a lot of noise with a significant amount of professional fees related to recent acquisitions and funding.


Raise fiscal 2021 revenue estimate.  The company plans to close on the Lucky Dino acquisition in late February. As such, it increased full year fiscal 2021 revenue guidance from $13 million to $18 million. Notably, we believe that there is upside surprise potential to that guidance. We are maintaining our fiscal 2022 revenue estimate of $70 million, which is in line with management’s guidance …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the 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.