ACCO Brands (NYSE:ACCO) Releases Q3 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.210-0.240 for the period, compared to the consensus estimate of 0.280. The company issued revenue guidance of $416.6 million-$425.6 million, compared to the consensus revenue estimate of $431.6 million. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

ACCO Brands Stock Performance

Shares of NYSE:ACCO traded down $0.33 on Friday, hitting $4.65. The company’s stock had a trading volume of 986,340 shares, compared to its average volume of 485,606. ACCO Brands has a 12 month low of $4.46 and a 12 month high of $6.62. The company has a market capitalization of $444.54 million, a price-to-earnings ratio of -17.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The stock’s 50-day moving average is $4.84 and its two-hundred day moving average is $5.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.69.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The company had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities research analysts forecast that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.45%. ACCO Brands’s payout ratio is -111.11%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ACCO shares. Barrington Research decreased their target price on 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 cut ACCO Brands from a buy rating to a hold rating in a research note on Friday.

Insider Activity at ACCO Brands

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares in the company, valued at approximately $92,360.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is currently owned by corporate 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.