Q3 2024 EPS Estimates for ACCO Brands Co. (NYSE:ACCO) Decreased by Sidoti Csr

ACCO Brands Co. (NYSE:ACCO) – Analysts at Sidoti Csr dropped their Q3 2024 earnings per share (EPS) estimates for shares of ACCO Brands in a research note issued to investors on Friday, August 2nd. Sidoti Csr analyst G. Burns now expects that the industrial products company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.29. The consensus estimate for ACCO Brands’ current full-year earnings is $1.04 per share. Sidoti Csr also issued estimates for ACCO Brands’ Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.37 EPS and Q3 2025 earnings at $0.30 EPS.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The company had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. During the same quarter last year, the company earned $0.38 EPS. ACCO Brands’s revenue for the quarter was down 11.3% compared to the same quarter last year.

A number of other brokerages have also weighed in on ACCO. Barrington Research reduced their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, June 6th. StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

ACCO Brands Stock Up 2.2 %

Shares of NYSE:ACCO opened at $4.65 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 1.18. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62. The stock has a market cap of $444.54 million, a price-to-earnings ratio of -17.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The firm’s 50 day moving average price is $4.82 and its 200 day moving average price is $5.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACCO. Capital Management Corp VA lifted its stake in ACCO Brands by 286.7% in the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock valued at $13,637,000 after buying an additional 1,802,250 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of ACCO Brands by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after acquiring an additional 706,291 shares during the period. Assenagon Asset Management S.A. raised its position in ACCO Brands by 160.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 819,268 shares of the industrial products company’s stock valued at $3,851,000 after purchasing an additional 504,876 shares during the last quarter. Readystate Asset Management LP boosted its stake in ACCO Brands by 146.1% during the 4th quarter. Readystate Asset Management LP now owns 448,891 shares of the industrial products company’s stock worth $2,729,000 after purchasing an additional 266,484 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new position in ACCO Brands during the 2nd quarter worth $773,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders 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 annualized dividend and a yield of 6.45%. ACCO Brands’s dividend payout ratio is currently -111.11%.

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.