ACCO Brands Co. (NYSE:ACCO) to Post FY2024 Earnings of $1.05 Per Share, Noble Financial Forecasts

ACCO Brands Co. (NYSE:ACCO) – Equities research analysts at Noble Financial dropped their FY2024 earnings estimates for ACCO Brands in a report issued on Monday, August 5th. Noble Financial analyst J. Gomes now anticipates that the industrial products company will post earnings of $1.05 per share for the year, down from their previous estimate of $1.07. The consensus estimate for ACCO Brands’ current full-year earnings is $1.04 per share.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS.

A number of other analysts also recently weighed in on the company. Barrington Research dropped their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday.

ACCO Brands Price Performance

Shares of ACCO traded down $0.08 during trading hours on Thursday, reaching $4.74. 407,122 shares of the company’s stock traded hands, compared to its average volume of 645,207. The stock has a market cap of $453.14 million, a PE ratio of -17.59, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The firm’s 50 day simple moving average is $4.80 and its 200-day simple moving average is $5.25. ACCO Brands has a 12 month low of $4.36 and a 12 month high of $6.62.

ACCO Brands Dividend Announcement

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 6.33%. The ex-dividend date is Friday, August 16th. ACCO Brands’s payout ratio is -111.11%.

Institutional Investors Weigh In On ACCO Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new stake in ACCO Brands during the 4th quarter worth about $50,000. Innealta Capital LLC purchased a new stake in shares of ACCO Brands in the first quarter valued at approximately $65,000. Gladius Capital Management LP purchased a new position in ACCO Brands in the fourth quarter worth approximately $73,000. Somerset Trust Co acquired a new position in ACCO Brands during the second quarter worth $57,000. Finally, SG Americas Securities LLC acquired a new position in ACCO Brands during the first quarter worth $71,000. 84.56% of the stock is owned by institutional investors.

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.