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

ACCO Brands (NYSE:ACCOGet Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23, Briefing.com reports. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The company had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. During the same period in the prior year, the firm posted $0.24 earnings per share. 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 Price Performance

Shares of ACCO stock traded up $0.28 during mid-day trading on Friday, reaching $5.18. The stock had a trading volume of 586,056 shares, compared to its average volume of 614,940. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The business has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $5.02. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62. The company has a market cap of $496.24 million, a P/E ratio of -2.81, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Friday, November 15th. ACCO Brands’s dividend payout ratio is currently -16.39%.

Analysts Set New Price Targets

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

Read Our Latest Stock Report on ACCO Brands

Insiders Place Their Bets

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction on 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 owns 243,899 shares of the company’s stock, 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 is accessible through this link. 7.30% of the stock is currently owned by company insiders.

About ACCO Brands

(Get Free Report)

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.

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Earnings History for ACCO Brands (NYSE:ACCO)

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