ACCO Brands (NYSE:ACCO) Announces Earnings Results

ACCO Brands (NYSE:ACCO) posted its quarterly earnings results on Thursday. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06, Briefing.com reports. The company had revenue of $438.30 million during the quarter, compared to the consensus estimate of $452.73 million. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The business’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS.

ACCO Brands Stock Performance

ACCO Brands stock traded down $0.33 during trading hours on Friday, reaching $4.65. 986,340 shares of the company were exchanged, compared to its average volume of 485,606. ACCO Brands has a 12 month low of $4.46 and a 12 month high of $6.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average of $4.84 and a 200 day moving average of $5.29. The firm has a market cap of $444.54 million, a price-to-earnings ratio of -17.22, a PEG ratio of 0.40 and a beta of 1.62.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be paid a $0.075 dividend. 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 payout ratio is -111.11%.

Insider Activity

In related news, SVP Angela Y. Jones sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the transaction, the senior vice president now owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ACCO shares. Barrington Research cut 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 note on Friday.

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.