ACCO Brands (ACCO) to Release Quarterly Earnings on Thursday

ACCO Brands (NYSE:ACCO) is scheduled to issue its quarterly earnings data after the market closes on Thursday, August 1st. Analysts expect the company to announce earnings of $0.31 per share for the quarter. ACCO Brands has set its FY 2024 guidance at 1.020-1.070 EPS and its Q2 2024 guidance at 0.300-0.330 EPS.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The company had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, analysts expect ACCO Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

ACCO Brands Trading Up 0.6 %

Shares of NYSE ACCO opened at $5.14 on Monday. The business’s 50 day moving average is $4.84 and its two-hundred day moving average is $5.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95. ACCO Brands has a 1-year low of $4.46 and a 1-year high of $6.62. The stock has a market capitalization of $491.38 million, a P/E ratio of -18.93, a PEG ratio of 0.41 and a beta of 1.62.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.84%. ACCO Brands’s dividend payout ratio is -111.11%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barrington Research cut their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, June 22nd.

Insider Activity at ACCO Brands

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the sale, the senior vice president now owns 18,621 shares of the company’s stock, valued at approximately $92,360.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.30% of the stock is owned by company insiders.

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.