ACCO Brands (NYSE:ACCO) Updates FY24 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.04-1.09 for the period, compared to the consensus EPS estimate of $1.04. The company issued revenue guidance of $1.67-$1.69 billion, compared to the consensus revenue estimate of $1.67 billion. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

ACCO Brands Stock Up 7.3 %

NYSE ACCO traded up $0.36 on Friday, hitting $5.26. The company had a trading volume of 1,769,445 shares, compared to its average volume of 522,575. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09. The company’s fifty day moving average price is $5.24 and its 200-day moving average price is $5.02. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. ACCO Brands had a positive return on equity of 13.77% and a negative net margin of 10.64%. ACCO Brands’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. As a group, analysts anticipate that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 5.70%. ACCO Brands’s payout ratio is currently -15.87%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACCO shares. Barrington Research reiterated an “outperform” rating and issued a $7.00 target price on shares of ACCO Brands in a research report on Wednesday, September 4th. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

Insider Transactions at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the transaction, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at $1,334,127.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.