ACCO Brands (NYSE:ACCO) Issues FY24 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.04-1.09 for the period, compared to the consensus earnings per share estimate of $1.04. The company issued revenue guidance of $1.67-$1.69 billion, compared to the consensus revenue estimate of $1.67 billion. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

Analysts Set New Price Targets

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

ACCO Brands Stock Up 7.3 %

NYSE:ACCO traded up $0.36 on Friday, hitting $5.26. 1,769,445 shares of the stock were exchanged, compared to its average volume of 522,575. The stock has a fifty day moving average of $5.24 and a 200-day moving average of $5.02. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 13.77%. The firm had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same quarter in the prior year, the company earned $0.24 EPS. The company’s revenue was down 6.0% on a year-over-year basis. As a group, equities analysts expect that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 5.70%. ACCO Brands’s dividend payout ratio (DPR) is -15.87%.

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 dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

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.