ACCO Brands (NYSE:ACCO) Releases 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 $1.72 billion. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

Analysts Set New Price Targets

A number of research firms recently weighed in on ACCO. Barrington Research reduced their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an outperform rating on the stock in a research report on Thursday, June 6th. StockNews.com lowered shares of ACCO Brands from a buy rating to a hold rating in a research report on Friday.

ACCO Brands Trading Down 6.6 %

ACCO Brands stock traded down $0.33 during midday trading on Friday, reaching $4.65. The stock had a trading volume of 986,340 shares, compared to its average volume of 485,606. 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 52-week low of $4.46 and a 52-week high of $6.62. The firm has a market cap 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 company has a fifty day moving average of $4.84 and a 200 day moving average of $5.29.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS 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 negative net margin of 10.15% and a positive return on equity of 12.57%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. On average, analysts anticipate that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Insider Transactions at ACCO Brands

In other 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 transaction, the senior vice president now directly owns 18,621 shares of the company’s stock, valued at $92,360.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

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.