ACCO Brands (NYSE:ACCO) Issues Earnings Results, Beats Expectations By $0.01 EPS

ACCO Brands (NYSE:ACCO) announced its quarterly earnings results on Thursday. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01, Briefing.com reports. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The company had revenue of $358.90 million during the quarter, compared to analyst estimates of $371.80 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was down 10.9% on a year-over-year basis. ACCO Brands updated its Q2 guidance to $0.30 to $0.33 EPS and its FY24 guidance to $1.02 to $1.07 EPS.

ACCO Brands Stock Down 0.9 %

Shares of NYSE:ACCO traded down $0.04 on Friday, hitting $4.88. 825,208 shares of the company traded hands, compared to its average volume of 676,607. ACCO Brands has a 52 week low of $4.30 and a 52 week high of $6.62. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $5.28 and a 200-day simple moving average of $5.55. The company has a market cap of $466.25 million, a PE ratio of -20.31, a PEG ratio of 0.37 and a beta of 1.66.

ACCO Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.15%. ACCO Brands’s payout ratio is presently -125.00%.

Analysts Set New Price Targets

ACCO has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and set a $7.50 price objective on shares of ACCO Brands in a research report on Thursday, February 29th. StockNews.com lowered ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

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.