ACCO Brands (NYSE:ACCO) Issues Q2 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.300-0.330 for the period, compared to the consensus EPS estimate of 0.320. The company issued revenue guidance of $449.2 million-$459.0 million, compared to the consensus revenue estimate of $458.3 million. ACCO Brands also updated its FY 2024 guidance to 1.020-1.070 EPS.

ACCO Brands Stock Performance

Shares of NYSE:ACCO traded up $0.04 on Monday, hitting $4.92. 45,411 shares of the company’s stock were exchanged, compared to its average volume of 669,242. ACCO Brands has a 12 month low of $4.64 and a 12 month high of $6.62. The business’s 50 day simple moving average is $5.27 and its two-hundred day simple moving average is $5.55. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, May 2nd. 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 12.19% and a negative net margin of 1.36%. The business had revenue of $358.90 million during the quarter, compared to the consensus estimate of $371.80 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. Research analysts anticipate that ACCO Brands will post 1.07 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be issued a $0.075 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.10%. ACCO Brands’s payout ratio is currently -111.11%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACCO shares. Barrington Research reiterated an outperform rating and issued a $7.50 target price on shares of ACCO Brands in a research note on Thursday, February 29th. StockNews.com lowered ACCO Brands from a strong-buy rating to a buy rating in a research note on Wednesday, February 28th.

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.