Acco Brands (NYSE:ACCO) Announces Earnings Results, Beats Expectations By $0.09 EPS

Acco Brands (NYSE:ACCO) announced its earnings results on Thursday. The industrial products company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09, FiscalAI reports. Acco Brands had a net margin of 3.74% and a return on equity of 12.57%. The firm had revenue of $380.30 million for the quarter, compared to the consensus estimate of $383.70 million.

Acco Brands Stock Performance

Acco Brands stock remained flat at $4.38 during midday trading on Thursday. The company’s stock had a trading volume of 823,150 shares, compared to its average volume of 851,320. The firm has a market cap of $404.32 million, a PE ratio of 7.06, a PEG ratio of 0.86 and a beta of 1.20. The company has a current ratio of 1.97, a quick ratio of 1.22 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $4.36 and its 200-day moving average is $3.95. Acco Brands has a 1 year low of $2.81 and a 1 year high of $4.74.

Acco Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be given a dividend of $0.0750 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.30 annualized dividend and a yield of 6.8%. Acco Brands’s dividend payout ratio is currently 48.39%.

Analysts Set New Price Targets

ACCO has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Acco Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Barrington Research set a $6.00 price objective on shares of Acco Brands in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Acco Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Acco Brands has a consensus rating of “Hold” and a consensus target price of $6.00.

About Acco Brands

ACCO Brands Corporation is a global manufacturer and marketer of consumer and office products. Its portfolio includes supplies and equipment used in workplaces, schools and homes, as well as products designed to support organization, productivity and personal technology.

The company’s brands include Swingline, Kensington, Mead, Five Star, GBC, Quartet and Esselte. Its products include staplers, punches, shredders, laminators, binding systems, presentation supplies, notebooks, planners, backpacks, computer accessories and other workspace and school supplies.

ACCO Brands traces its history to the American Clip Company, founded in 1903.