ACCO Brands (NYSE:ACCO) Posts Earnings Results, Meets Estimates

ACCO Brands (NYSE:ACCO) announced its quarterly earnings data on Thursday. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23, Briefing.com reports. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. ACCO Brands updated its FY24 guidance to $1.04-1.09 EPS and its FY 2024 guidance to 1.040-1.090 EPS.

ACCO Brands Trading Up 4.9 %

ACCO stock traded up $0.24 during midday trading on Friday, reaching $5.14. The company’s stock had a trading volume of 530,067 shares, compared to its average volume of 614,896. ACCO Brands has a 1 year low of $4.36 and a 1 year high of $6.62. 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 has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $5.02. The firm has a market capitalization of $492.41 million, a price-to-earnings ratio of -2.81, a PEG ratio of 0.40 and a beta of 1.62.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be paid a $0.075 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 5.84%. ACCO Brands’s payout ratio is -16.39%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 243,899 shares in the company, valued at approximately $1,334,127.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.30% of the company’s stock.

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.