ACCO Brands (NYSE:ACCO) Updates FY 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.040-1.090 for the period, compared to the consensus earnings per share estimate of 1.040. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. ACCO Brands also updated its FY24 guidance to $1.04-$1.09 EPS.

ACCO Brands Stock Down 6.6 %

ACCO stock traded down $0.33 during trading on Friday, reaching $4.65. The stock had a trading volume of 986,340 shares, compared to its average volume of 485,606. ACCO Brands has a 1-year low of $4.46 and a 1-year high of $6.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $444.54 million, a P/E ratio of -17.22, a PEG ratio of 0.40 and a beta of 1.62. The firm has a fifty day moving average price of $4.84 and a 200 day moving average price of $5.29.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 12.57%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, equities analysts anticipate that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be paid a $0.075 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.45%. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ACCO shares. Barrington Research dropped their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an outperform rating on the stock in a research note on Thursday, June 6th. StockNews.com lowered shares of ACCO Brands from a buy rating to a hold rating in a research note on Friday.

Insider Activity

In related news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares in the company, valued at $92,360.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.