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

ACCO Brands (NYSE:ACCOGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.040-1.090 for the period, compared to the consensus EPS estimate of 1.040. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. ACCO Brands also updated its FY24 guidance to $1.04-1.09 EPS.

Analysts Set New Price Targets

ACCO has been the topic of several analyst reports. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Barrington Research reaffirmed an “outperform” rating and set a $7.00 price objective on shares of ACCO Brands in a report on Wednesday, September 4th.

View Our Latest Research Report on ACCO

ACCO Brands Stock Performance

Shares of NYSE:ACCO traded down $0.06 during midday trading on Thursday, hitting $4.91. The company’s stock had a trading volume of 606,615 shares, compared to its average volume of 615,356. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The stock’s 50 day simple moving average is $5.25 and its 200 day simple moving average is $5.02. The stock has a market capitalization of $468.92 million, a price-to-earnings ratio of -18.15, a PEG ratio of 0.42 and a beta of 1.62. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62.

ACCO Brands (NYSE:ACCOGet Free Report) last released its earnings results 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. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The firm had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s revenue was down 11.3% on a year-over-year basis. As a group, research analysts anticipate that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio (DPR) is currently -111.11%.

Insider Activity at ACCO Brands

In related news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the sale, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

About ACCO Brands

(Get Free Report)

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.

Read More

Earnings History and Estimates for ACCO Brands (NYSE:ACCO)

Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.