ACCO Brands (NYSE:ACCO – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.210-0.240 for the period, compared to the consensus EPS estimate of 0.280. The company issued revenue guidance of $416.6 million-$425.6 million, compared to the consensus revenue estimate of $431.6 million. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ACCO. StockNews.com cut shares of ACCO Brands from a buy rating to a hold rating in a research note on Friday. Barrington Research dropped their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an outperform rating for the company in a research note on Thursday, June 6th.
View Our Latest Analysis on ACCO
ACCO Brands Stock Down 6.6 %
ACCO Brands (NYSE:ACCO – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 12.57%. The business had revenue of $438.30 million for the quarter, compared to the consensus estimate of $452.73 million. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts expect that ACCO Brands will post 1.04 EPS for the current year.
ACCO Brands Dividend Announcement
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 given 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 dividend payout ratio (DPR) is -111.11%.
Insider Activity
In related news, SVP Angela Y. Jones sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the sale, the senior vice president now owns 18,621 shares of the company’s stock, valued at $92,360.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.30% of the company’s stock.
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.
Read More
- Five stocks we like better than ACCO Brands
- What is the S&P 500 and How It is Distinct from Other Indexes
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
- Technology Stocks Explained: Here’s What to Know About Tech
- Intel Loses a Quarter of Its Value After Horrible Earnings Report
Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.