ACCO Brands (NYSE:ACCO) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

ACCO Brands (NYSE:ACCO) released its quarterly earnings results on Thursday. The industrial products company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01, Briefing.com reports. The business had revenue of $358.90 million during the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. ACCO Brands’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. ACCO Brands updated its Q2 guidance to $0.30 to $0.33 EPS and its FY24 guidance to $1.02 to $1.07 EPS.

ACCO Brands Stock Performance

Shares of ACCO Brands stock traded down $0.04 during trading hours on Friday, hitting $4.88. 825,208 shares of the company’s stock traded hands, compared to its average volume of 676,607. The stock has a market capitalization of $466.25 million, a price-to-earnings ratio of -20.31, a PEG ratio of 0.37 and a beta of 1.66. ACCO Brands has a 12-month low of $4.30 and a 12-month high of $6.62. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.58 and a quick ratio of 0.97. The company has a fifty day simple moving average of $5.28 and a 200-day simple moving average of $5.55.

ACCO Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be paid a $0.075 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.30 dividend on an annualized basis and a yield of 6.15%. ACCO Brands’s dividend payout ratio (DPR) is presently -125.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ACCO shares. Barrington Research reiterated an “outperform” rating and issued a $7.50 target price on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com lowered shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

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.