ACCO Brands (NYSE:ACCO) Issues FY24 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.02 to $1.07 for the period, compared to the consensus EPS estimate of $1.07. The company issued revenue guidance of -7 to -5% yr/yr or $1.705 billion to $1.741 billion, compared to the consensus revenue estimate of $1.76 billion. ACCO Brands also updated its Q2 guidance to $0.30 to $0.33 EPS.

ACCO Brands Price Performance

Shares of ACCO stock traded up $0.17 during mid-day trading on Thursday, reaching $4.94. The company’s stock had a trading volume of 763,631 shares, compared to its average volume of 674,853. ACCO Brands has a 1-year low of $4.30 and a 1-year high of $6.62. The company has a market cap of $471.98 million, a P/E ratio of -19.83, a PEG ratio of 0.38 and a beta of 1.66. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58. The firm’s 50-day moving average is $5.31 and its two-hundred day moving average is $5.56.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Friday, February 23rd. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. ACCO Brands had a negative net margin of 1.19% and a positive return on equity of 12.94%. The business had revenue of $488.60 million for the quarter, compared to analyst estimates of $476.37 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts predict that ACCO Brands will post 1.07 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s payout ratio is -125.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ACCO shares. Barrington Research reaffirmed an outperform rating and issued a $7.50 target price on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com lowered shares of ACCO Brands from a strong-buy rating to a buy rating in a report on Wednesday, February 28th.

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.