FY2024 EPS Estimates for ACCO Brands Co. Boosted by Analyst (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCO) – Analysts at Barrington Research upped their FY2024 EPS estimates for ACCO Brands in a research note issued on Wednesday, September 4th. Barrington Research analyst K. Steinke now anticipates that the industrial products company will post earnings per share of $1.04 for the year, up from their prior forecast of $1.02. Barrington Research has a “Outperform” rating and a $7.00 price objective on the stock. The consensus estimate for ACCO Brands’ current full-year earnings is $1.04 per share.

Separately, StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

ACCO Brands Stock Performance

Shares of ACCO opened at $5.32 on Friday. The firm has a fifty day moving average of $4.96 and a 200-day moving average of $5.11. The company has a market cap of $508.59 million, a price-to-earnings ratio of -19.70, a price-to-earnings-growth ratio of 0.44 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. ACCO Brands has a 1 year low of $4.36 and a 1 year high of $6.62.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) 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 business had revenue of $438.30 million during the quarter, compared to analyst estimates of $452.73 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 16th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 5.64%. The ex-dividend date was Friday, August 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

Insider Buying and Selling at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value 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. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.30% of the stock is owned by company insiders.

Institutional Trading of ACCO Brands

Institutional investors have recently made changes to their positions in the stock. Somerset Trust Co acquired a new position in shares of ACCO Brands during the second quarter valued at approximately $57,000. Innealta Capital LLC bought a new position in ACCO Brands during the 1st quarter valued at $65,000. SG Americas Securities LLC acquired a new position in shares of ACCO Brands during the 1st quarter valued at $71,000. Paloma Partners Management Co acquired a new position in shares of ACCO Brands during the 1st quarter valued at $74,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of ACCO Brands by 841.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock worth $76,000 after buying an additional 14,507 shares in the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

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.