ACCO Brands (NYSE:ACCO) Updates Q3 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.210-0.240 for the period, compared to the consensus earnings per share estimate of 0.280. The company issued revenue guidance of $416.6 million-$425.6 million, compared to the consensus revenue estimate of $431.6 million. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

ACCO Brands Stock Performance

Shares of NYSE:ACCO traded down $0.33 during mid-day trading on Friday, reaching $4.65. 986,340 shares of the company traded hands, compared to its average volume of 485,606. The company’s 50 day moving average price is $4.84 and its 200-day moving average price is $5.29. The firm has a market cap of $444.54 million, a PE ratio of -17.22, a PEG ratio of 0.40 and a beta of 1.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95. ACCO Brands has a 52 week low of $4.46 and a 52 week high of $6.62.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $438.30 million during the quarter, compared to the consensus estimate of $452.73 million. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. On average, equities analysts expect that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th will be paid a $0.075 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.30 annualized dividend and a yield of 6.45%. ACCO Brands’s payout ratio is -111.11%.

Wall Street Analysts Forecast Growth

ACCO has been the topic of several recent research reports. Barrington Research decreased their price objective on ACCO Brands from $7.50 to $7.00 and set an outperform rating on the stock in a report on Thursday, June 6th. StockNews.com lowered ACCO Brands from a buy rating to a hold rating in a report on Friday.

Insider Transactions at ACCO Brands

In other news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the sale, the senior vice president now directly owns 18,621 shares in the company, valued at approximately $92,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.30% of the company’s stock.

About ACCO Brands

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.