ACCO Brands (NYSE:ACCO) Announces Earnings Results, Meets Estimates

ACCO Brands (NYSE:ACCO) released its 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. The firm had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. ACCO Brands’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. 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 Trading Up 7.3 %

Shares of NYSE:ACCO opened at $5.26 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. The stock has a market capitalization of $503.91 million, a price-to-earnings ratio of -2.87, a PEG ratio of 0.40 and a beta of 1.62. ACCO Brands has a 1-year low of $4.36 and a 1-year high of $6.62. The company has a 50 day moving average price of $5.24 and a 200 day moving average price of $5.02.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.70%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio is presently -16.39%.

Insider Buying and Selling at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the company’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 sale, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at $1,334,127.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.