ACCO Brands (NYSE:ACCO) Issues FY24 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.04-1.09 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several research firms have weighed in on ACCO. Barrington Research reaffirmed 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 upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Trading Up 7.3 %

Shares of ACCO Brands stock traded up $0.36 during trading hours on Friday, reaching $5.26. 1,769,445 shares of the company were exchanged, compared to its average volume of 522,575. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. ACCO Brands has a 1 year low of $4.36 and a 1 year high of $6.62. The stock’s fifty day moving average is $5.24 and its 200 day moving average is $5.02.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. ACCO Brands had a positive return on equity of 13.77% and a negative net margin of 10.64%. The company had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. During the same quarter last year, the company earned $0.24 EPS. ACCO Brands’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

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

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the transaction, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.