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

ACCO Brands (NYSE:ACCO) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.210-0.240 for the period, compared to the consensus EPS 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

ACCO stock traded down $0.13 during midday trading on Thursday, hitting $4.98. The company’s stock had a trading volume of 640,204 shares, compared to its average volume of 641,500. ACCO Brands has a 1 year low of $4.46 and a 1 year high of $6.62. The stock has a market cap of $476.09 million, a price-to-earnings ratio of -18.44, a PEG ratio of 0.41 and a beta of 1.62. The stock’s 50-day moving average price is $4.85 and its 200 day moving average price is $5.30. 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 (NYSE:ACCO) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $358.90 million during the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.42%. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, equities analysts forecast that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The business 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 dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.02%. ACCO Brands’s payout ratio is currently -111.11%.

Analysts Set New Price Targets

A number of research firms have issued reports on ACCO. 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 report on Thursday, June 6th. StockNews.com upgraded ACCO Brands from a hold rating to a buy rating in a research note on Saturday, June 22nd.

Insider Activity at ACCO Brands

In related news, SVP Angela Y. Jones sold 15,000 shares of ACCO Brands stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the transaction, the senior vice president now directly owns 18,621 shares in the company, valued at approximately $92,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.30% of the stock is currently owned by corporate 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.