ACCO Brands (NYSE:ACCO) Posts Quarterly Earnings Results, Meets Estimates

ACCO Brands (NYSE:ACCO) posted its quarterly earnings results on Thursday. The industrial products company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates 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 firm had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter 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 opened at $5.26 on Friday. The firm has a market cap of $503.91 million, a PE ratio of -2.87, a P/E/G 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 current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The firm has a fifty day simple moving average of $5.24 and a two-hundred day simple moving average of $5.02.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio (DPR) is presently -16.39%.

Insider Transactions at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 owns 243,899 shares of the company’s stock, valued at $1,334,127.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.30% of the company’s stock.

Analysts Set New Price Targets

ACCO has been the subject of a number of research analyst reports. Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of ACCO Brands in a report on Wednesday, September 4th. StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

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.