ACCO Brands (NYSE:ACCO) Updates FY24 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.04-1.09 for the period, compared to the consensus estimate of $1.04. The company issued revenue guidance of $1.67-$1.69 billion, compared to the consensus revenue estimate of $1.67 billion. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ACCO shares. Barrington Research reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of ACCO Brands in a report on Wednesday, September 4th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Trading Up 7.3 %

ACCO stock traded up $0.36 during trading on Friday, hitting $5.26. The company had a trading volume of 1,769,445 shares, compared to its average volume of 522,575. The business has a 50 day moving average of $5.24 and a 200 day moving average of $5.02. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The company had revenue of $420.90 million during the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 13.77%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. On average, equities research analysts expect that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 annualized dividend and a yield of 5.70%. ACCO Brands’s dividend payout ratio is currently -15.87%.

Insiders Place Their Bets

In related news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.30% of the stock is owned by company insiders.

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.