ACCO Brands (NYSE:ACCO) Issues Quarterly Earnings Results, Hits Estimates

ACCO Brands (NYSE:ACCO) posted its quarterly earnings results on Thursday. The industrial products company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23, Briefing.com reports. The company had revenue of $420.90 million during the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. 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 Trading Up 4.9 %

NYSE:ACCO traded up $0.24 during trading hours on Friday, hitting $5.14. The company had a trading volume of 530,067 shares, compared to its average volume of 614,896. The company has a market capitalization of $492.41 million, a PE ratio of -2.81, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The stock has a 50-day moving average price of $5.25 and a 200 day moving average price of $5.02. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio is -16.39%.

Insider Activity at ACCO Brands

In other news, SVP Pamela R. Schneider sold 19,166 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the sale, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ACCO shares. StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Barrington Research reissued an “outperform” rating and set a $7.00 price target on shares of ACCO Brands in a research note on Wednesday, September 4th.

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.