ACCO Brands (NYSE:ACCO) Updates Q3 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.21-$0.24 for the period, compared to the consensus earnings per share estimate of $0.28. The company issued revenue guidance of $416.6-$425.6 million, compared to the consensus revenue estimate of $431.63 million. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barrington Research decreased their price target on shares of ACCO Brands from $7.50 to $7.00 and set an outperform rating for the company in a research report on Thursday, June 6th. StockNews.com cut shares of ACCO Brands from a buy rating to a hold rating in a research report on Friday.

ACCO Brands Trading Down 6.6 %

Shares of ACCO traded down $0.33 during trading hours on Friday, hitting $4.65. 986,340 shares of the stock were exchanged, compared to its average volume of 485,606. ACCO Brands has a fifty-two week low of $4.46 and a fifty-two week high of $6.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95. The business has a 50-day moving average of $4.84 and a 200-day moving average of $5.29. The firm has a market capitalization of $444.54 million, a P/E ratio of -17.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62.

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

ACCO Brands Announces Dividend

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 issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Friday, August 16th. ACCO Brands’s payout ratio is -111.11%.

Insiders Place Their Bets

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.