Intrinsic value of R.R. Donnelley&Sons - RRD

Previous Close

$5.51

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$5.51

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

We calculate the intrinsic value of RRD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  7,079
  7,242
  7,428
  7,637
  7,868
  8,122
  8,399
  8,698
  9,021
  9,367
  9,737
  10,133
  10,553
  11,001
  11,475
  11,978
  12,510
  13,073
  13,668
  14,296
  14,959
  15,658
  16,394
  17,170
  17,988
  18,848
  19,754
  20,707
  21,710
  22,765
Variable operating expenses, $m
  7,389
  7,557
  7,749
  7,965
  8,205
  8,467
  8,753
  9,062
  9,396
  9,754
  10,063
  10,472
  10,906
  11,369
  11,859
  12,379
  12,929
  13,511
  14,125
  14,774
  15,459
  16,181
  16,943
  17,745
  18,589
  19,479
  20,415
  21,400
  22,437
  23,527
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,389
  7,557
  7,749
  7,965
  8,205
  8,467
  8,753
  9,062
  9,396
  9,754
  10,063
  10,472
  10,906
  11,369
  11,859
  12,379
  12,929
  13,511
  14,125
  14,774
  15,459
  16,181
  16,943
  17,745
  18,589
  19,479
  20,415
  21,400
  22,437
  23,527
Operating income, $m
  -310
  -315
  -322
  -329
  -336
  -345
  -354
  -364
  -375
  -387
  -326
  -339
  -353
  -368
  -384
  -401
  -418
  -437
  -457
  -478
  -500
  -524
  -548
  -574
  -602
  -631
  -661
  -693
  -726
  -762
EBITDA, $m
  -95
  -97
  -100
  -103
  -106
  -109
  -113
  -117
  -121
  -126
  -131
  -136
  -142
  -148
  -154
  -161
  -168
  -176
  -184
  -192
  -201
  -211
  -221
  -231
  -242
  -254
  -266
  -279
  -292
  -306
Interest expense (income), $m
  273
  169
  126
  132
  140
  148
  158
  168
  179
  191
  204
  219
  234
  250
  267
  285
  304
  324
  346
  369
  393
  418
  445
  473
  503
  535
  568
  603
  639
  678
  719
Earnings before tax, $m
  -479
  -441
  -454
  -469
  -485
  -503
  -522
  -543
  -566
  -591
  -544
  -572
  -603
  -635
  -669
  -705
  -743
  -783
  -826
  -871
  -919
  -969
  -1,022
  -1,078
  -1,136
  -1,198
  -1,263
  -1,332
  -1,404
  -1,480
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -479
  -441
  -454
  -469
  -485
  -503
  -522
  -543
  -566
  -591
  -544
  -572
  -603
  -635
  -669
  -705
  -743
  -783
  -826
  -871
  -919
  -969
  -1,022
  -1,078
  -1,136
  -1,198
  -1,263
  -1,332
  -1,404
  -1,480

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,984
  4,075
  4,180
  4,298
  4,428
  4,571
  4,726
  4,895
  5,076
  5,271
  5,480
  5,702
  5,939
  6,191
  6,458
  6,741
  7,040
  7,357
  7,692
  8,045
  8,418
  8,811
  9,226
  9,662
  10,122
  10,607
  11,117
  11,653
  12,217
  12,811
Adjusted assets (=assets-cash), $m
  3,984
  4,075
  4,180
  4,298
  4,428
  4,571
  4,726
  4,895
  5,076
  5,271
  5,480
  5,702
  5,939
  6,191
  6,458
  6,741
  7,040
  7,357
  7,692
  8,045
  8,418
  8,811
  9,226
  9,662
  10,122
  10,607
  11,117
  11,653
  12,217
  12,811
Revenue / Adjusted assets
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
  1.777
Average production assets, $m
  1,416
  1,448
  1,486
  1,527
  1,574
  1,624
  1,680
  1,740
  1,804
  1,873
  1,947
  2,027
  2,111
  2,200
  2,295
  2,396
  2,502
  2,615
  2,734
  2,859
  2,992
  3,132
  3,279
  3,434
  3,598
  3,770
  3,951
  4,141
  4,342
  4,553
Working capital, $m
  -694
  -710
  -728
  -748
  -771
  -796
  -823
  -852
  -884
  -918
  -954
  -993
  -1,034
  -1,078
  -1,125
  -1,174
  -1,226
  -1,281
  -1,339
  -1,401
  -1,466
  -1,534
  -1,607
  -1,683
  -1,763
  -1,847
  -1,936
  -2,029
  -2,128
  -2,231
Total debt, $m
  1,572
  1,655
  1,749
  1,855
  1,972
  2,101
  2,241
  2,393
  2,556
  2,731
  2,919
  3,119
  3,332
  3,559
  3,799
  4,054
  4,323
  4,608
  4,910
  5,228
  5,563
  5,917
  6,290
  6,683
  7,097
  7,533
  7,992
  8,475
  8,983
  9,517
Total liabilities, $m
  3,585
  3,668
  3,762
  3,868
  3,985
  4,114
  4,254
  4,405
  4,569
  4,744
  4,932
  5,132
  5,345
  5,571
  5,812
  6,067
  6,336
  6,621
  6,922
  7,241
  7,576
  7,930
  8,303
  8,696
  9,110
  9,546
  10,005
  10,488
  10,996
  11,530
Total equity, $m
  398
  408
  418
  430
  443
  457
  473
  489
  508
  527
  548
  570
  594
  619
  646
  674
  704
  736
  769
  805
  842
  881
  923
  966
  1,012
  1,061
  1,112
  1,165
  1,222
  1,281
Total liabilities and equity, $m
  3,983
  4,076
  4,180
  4,298
  4,428
  4,571
  4,727
  4,894
  5,077
  5,271
  5,480
  5,702
  5,939
  6,190
  6,458
  6,741
  7,040
  7,357
  7,691
  8,046
  8,418
  8,811
  9,226
  9,662
  10,122
  10,607
  11,117
  11,653
  12,218
  12,811
Debt-to-equity ratio
  3.950
  4.060
  4.180
  4.320
  4.450
  4.600
  4.740
  4.890
  5.040
  5.180
  5.330
  5.470
  5.610
  5.750
  5.880
  6.010
  6.140
  6.260
  6.380
  6.500
  6.610
  6.720
  6.820
  6.920
  7.010
  7.100
  7.190
  7.270
  7.350
  7.430
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -479
  -441
  -454
  -469
  -485
  -503
  -522
  -543
  -566
  -591
  -544
  -572
  -603
  -635
  -669
  -705
  -743
  -783
  -826
  -871
  -919
  -969
  -1,022
  -1,078
  -1,136
  -1,198
  -1,263
  -1,332
  -1,404
  -1,480
Depreciation, amort., depletion, $m
  215
  218
  222
  226
  231
  236
  241
  247
  254
  261
  195
  203
  211
  220
  230
  240
  250
  261
  273
  286
  299
  313
  328
  343
  360
  377
  395
  414
  434
  455
Funds from operations, $m
  -264
  -223
  -232
  -243
  -254
  -267
  -281
  -296
  -313
  -330
  -349
  -370
  -391
  -415
  -439
  -465
  -493
  -522
  -553
  -585
  -619
  -656
  -694
  -734
  -777
  -821
  -868
  -918
  -970
  -1,025
Change in working capital, $m
  -14
  -16
  -18
  -20
  -23
  -25
  -27
  -29
  -32
  -34
  -36
  -39
  -41
  -44
  -47
  -49
  -52
  -55
  -58
  -62
  -65
  -68
  -72
  -76
  -80
  -84
  -89
  -93
  -98
  -103
Cash from operations, $m
  -250
  -207
  -214
  -222
  -232
  -242
  -254
  -267
  -281
  -297
  -313
  -331
  -350
  -371
  -393
  -416
  -440
  -467
  -494
  -524
  -555
  -587
  -622
  -658
  -697
  -737
  -780
  -825
  -872
  -922
Maintenance CAPEX, $m
  -139
  -142
  -145
  -149
  -153
  -157
  -162
  -168
  -174
  -180
  -187
  -195
  -203
  -211
  -220
  -230
  -240
  -250
  -261
  -273
  -286
  -299
  -313
  -328
  -343
  -360
  -377
  -395
  -414
  -434
New CAPEX, $m
  -30
  -33
  -37
  -42
  -46
  -51
  -55
  -60
  -65
  -69
  -74
  -79
  -84
  -89
  -95
  -101
  -106
  -113
  -119
  -126
  -133
  -140
  -147
  -155
  -163
  -172
  -181
  -191
  -201
  -211
Cash from investing activities, $m
  -169
  -175
  -182
  -191
  -199
  -208
  -217
  -228
  -239
  -249
  -261
  -274
  -287
  -300
  -315
  -331
  -346
  -363
  -380
  -399
  -419
  -439
  -460
  -483
  -506
  -532
  -558
  -586
  -615
  -645
Free cash flow, $m
  -419
  -381
  -396
  -413
  -431
  -450
  -472
  -495
  -520
  -546
  -575
  -605
  -637
  -671
  -707
  -746
  -786
  -829
  -875
  -923
  -973
  -1,026
  -1,082
  -1,141
  -1,203
  -1,269
  -1,338
  -1,410
  -1,486
  -1,567
Issuance/(repayment) of debt, $m
  -537
  82
  94
  106
  117
  129
  140
  152
  163
  175
  188
  200
  213
  226
  240
  255
  270
  285
  301
  318
  336
  354
  373
  393
  414
  436
  459
  483
  508
  534
Issuance/(repurchase) of shares, $m
  1,095
  450
  465
  480
  498
  517
  538
  560
  585
  611
  565
  595
  626
  660
  695
  733
  773
  815
  859
  906
  956
  1,008
  1,063
  1,121
  1,182
  1,247
  1,314
  1,386
  1,461
  1,540
Cash from financing (excl. dividends), $m  
  558
  532
  559
  586
  615
  646
  678
  712
  748
  786
  753
  795
  839
  886
  935
  988
  1,043
  1,100
  1,160
  1,224
  1,292
  1,362
  1,436
  1,514
  1,596
  1,683
  1,773
  1,869
  1,969
  2,074
Total cash flow (excl. dividends), $m
  139
  151
  163
  174
  185
  195
  206
  217
  228
  240
  178
  190
  202
  215
  228
  242
  256
  271
  286
  302
  319
  336
  354
  373
  393
  414
  435
  458
  482
  507
Retained Cash Flow (-), $m
  -1,095
  -450
  -465
  -480
  -498
  -517
  -538
  -560
  -585
  -611
  -565
  -595
  -626
  -660
  -695
  -733
  -773
  -815
  -859
  -906
  -956
  -1,008
  -1,063
  -1,121
  -1,182
  -1,247
  -1,314
  -1,386
  -1,461
  -1,540
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  11
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
Cash available for distribution, $m
  -956
  -299
  -302
  -307
  -313
  -322
  -332
  -343
  -356
  -371
  -387
  -405
  -424
  -445
  -467
  -491
  -517
  -544
  -573
  -604
  -637
  -672
  -709
  -748
  -789
  -833
  -879
  -927
  -979
  -1,032
Discount rate, %
  13.10
  13.76
  14.44
  15.16
  15.92
  16.72
  17.56
  18.43
  19.35
  20.32
  21.34
  22.41
  23.53
  24.70
  25.94
  27.23
  28.60
  30.03
  31.53
  33.10
  34.76
  36.50
  38.32
  40.24
  42.25
  44.36
  46.58
  48.91
  51.35
  53.92
PV of cash for distribution, $m
  -846
  -231
  -201
  -174
  -150
  -127
  -107
  -89
  -72
  -58
  -46
  -36
  -27
  -20
  -15
  -10
  -7
  -5
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  23.5
  11.0
  5.1
  2.4
  1.1
  0.5
  0.2
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

R.R. Donnelley & Sons Company helps organizations communicate by working to create, manage, produce, distribute and process content on behalf of its customers. The Company's segments include Variable Print, Strategic Services, International and Corporate. The Variable Print segment includes the Company's United States short-run and transactional printing operations. The Variable Print segment's primary product offerings include commercial and digital print, direct mail, labels, statement printing, forms and packaging. The Strategic Services segment includes the Company's logistics services, print management offerings and digital and creative solutions. The International segment includes the Company's non-United States printing operations in Asia, Latin America and Canada. The International segment's primary product and service offerings include magazines, catalogs, retail inserts, books, directories, direct mail, logistics services and digital and creative solutions.

FINANCIAL RATIOS  of  R.R. Donnelley&Sons (RRD)

Valuation Ratios
P/E Ratio -0.8
Price to Sales 0.1
Price to Book -3.6
Price to Tangible Book
Price to Cash Flow 3.1
Price to Free Cash Flow -8.2
Growth Rates
Sales Growth Rate -0.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -17.3%
Cap. Spend. - 3 Yr. Gr. Rate -4.5%
Financial Strength
Quick Ratio 81
Current Ratio 0
LT Debt to Equity -2244.3%
Total Debt to Equity -2251.9%
Interest Coverage -1
Management Effectiveness
Return On Assets -4%
Ret/ On Assets - 3 Yr. Avg. 3.9%
Return On Total Capital -18.4%
Ret/ On T. Cap. - 3 Yr. Avg. -3.9%
Return On Equity -171.9%
Return On Equity - 3 Yr. Avg. -43.1%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 20%
Gross Margin - 3 Yr. Avg. 20.3%
EBITDA Margin 2%
EBITDA Margin - 3 Yr. Avg. 7.1%
Operating Margin -4.4%
Oper. Margin - 3 Yr. Avg. 0.3%
Pre-Tax Margin -7.2%
Pre-Tax Margin - 3 Yr. Avg. -2.9%
Net Profit Margin -7.2%
Net Profit Margin - 3 Yr. Avg. -1.1%
Effective Tax Rate 2.4%
Eff/ Tax Rate - 3 Yr. Avg. -43.2%
Payout Ratio -34.9%

RRD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RRD stock intrinsic value calculation we used $6940 million for the last fiscal year's total revenue generated by R.R. Donnelley&Sons. The default revenue input number comes from 2017 income statement of R.R. Donnelley&Sons. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RRD stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.1%, whose default value for RRD is calculated based on our internal credit rating of R.R. Donnelley&Sons, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of R.R. Donnelley&Sons.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RRD stock the variable cost ratio is equal to 104.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for RRD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8% for R.R. Donnelley&Sons.

Corporate tax rate of 27% is the nominal tax rate for R.R. Donnelley&Sons. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RRD stock is equal to 0.1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RRD are equal to 20%.

Life of production assets of 10 years is the average useful life of capital assets used in R.R. Donnelley&Sons operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RRD is equal to -9.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-218 million for R.R. Donnelley&Sons - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 70 million for R.R. Donnelley&Sons is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of R.R. Donnelley&Sons at the current share price and the inputted number of shares is $0.4 billion.

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COMPANY NEWS

▶ Stay Away! 3 Dividend Stocks that Are Yield Traps   [May-23-18 11:51AM  Motley Fool]
▶ RRD Reports First Quarter 2018 Results   [May-01-18 04:30PM  Business Wire]
▶ RRD Launches SuperDoc Web Statement Enhancement   [Apr-24-18 09:00AM  Business Wire]
▶ RRD Board of Directors Declares Quarterly Dividend   [Apr-05-18 04:30PM  Business Wire]
▶ R.R. Donnelley & Sons Company to Host Earnings Call   [Feb-28-18 07:45AM  ACCESSWIRE]
▶ RR Donnelley Board of Directors Declares Quarterly Dividend   [Jan-17-18 04:30PM  Business Wire]
▶ The 10 Biggest Stock Market Failures of 2017   [Nov-21-17 01:08PM  InvestorPlace]
▶ RR Donnelley Reports Third Quarter 2017 Results   [Oct-31-17 04:30PM  Business Wire]
▶ RR Donnelley Board of Directors Declares Quarterly Dividend   [Oct-25-17 04:30PM  Business Wire]
▶ Why Shares of R.R. Donnelley & Sons Plunged Today   [Aug-02-17 12:39PM  Motley Fool]
▶ R.R. Donnelley posts 2Q profit   [Aug-01-17 09:48PM  Associated Press]
▶ RRD Awarded an Agreement with Vizient   [Jul-05-17 09:15AM  Business Wire]
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