ACCO Brands (NYSE:ACCO) Issues FY 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.040-1.090 for the period, compared to the consensus earnings per share estimate of 1.040. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. ACCO Brands also updated its FY24 guidance to $1.04-1.09 EPS.

ACCO Brands Stock Down 1.3 %

Shares of ACCO stock traded down $0.06 on Thursday, hitting $4.91. The stock had a trading volume of 606,615 shares, compared to its average volume of 615,356. ACCO Brands has a 52-week low of $4.36 and a 52-week high of $6.62. The firm has a market capitalization of $468.92 million, a price-to-earnings ratio of -18.15, a P/E/G ratio of 0.42 and a beta of 1.62. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The stock’s 50 day moving average is $5.25 and its 200-day moving average is $5.02.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The firm had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. During the same quarter last year, the firm earned $0.38 EPS. ACCO Brands’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, research analysts expect that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend is Friday, November 15th. ACCO Brands’s payout ratio is currently -111.11%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares of the company’s stock, valued at $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 through the SEC website. 7.30% of the stock is currently owned by insiders.

ACCO Brands Company Profile

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.