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

ACCO Brands (NYSE:ACCO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.040-1.090 for the period, compared to the consensus earnings per share 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.

ACCO Brands Trading Down 2.5 %

NYSE ACCO traded down $0.13 during trading on Thursday, hitting $4.98. The stock had a trading volume of 640,204 shares, compared to its average volume of 641,500. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 1.18. ACCO Brands has a twelve month low of $4.46 and a twelve month high of $6.62. The company has a market capitalization of $476.09 million, a PE ratio of -18.44, a PEG ratio of 0.41 and a beta of 1.62. The firm has a 50 day moving average price of $4.85 and a 200 day moving average price of $5.30.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The business had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, August 16th. ACCO Brands’s payout ratio is presently -111.11%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ACCO. Barrington Research decreased their price target on shares of ACCO Brands from $7.50 to $7.00 and set an outperform rating for the company in a research note on Thursday, June 6th. StockNews.com raised shares of ACCO Brands from a hold rating to a buy rating in a research report on Saturday, June 22nd.

Insider Activity

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total transaction of $74,400.00. Following the sale, the senior vice president now owns 18,621 shares of the company’s stock, valued at $92,360.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.30% of the company’s stock.

ACCO Brands Company Profile

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.