ACCO Brands (NYSE:ACCO) Issues FY 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.020-1.070 for the period, compared to the consensus estimate of 1.070. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.8 billion. ACCO Brands also updated its Q2 2024 guidance to 0.300-0.330 EPS.

Wall Street Analysts Forecast Growth

ACCO has been the subject of a number of research analyst reports. Barrington Research reaffirmed an outperform rating and issued a $7.50 price target on shares of ACCO Brands in a research note on Thursday, February 29th. StockNews.com cut shares of ACCO Brands from a strong-buy rating to a buy rating in a research report on Wednesday, February 28th.

ACCO Brands Trading Up 1.8 %

ACCO stock opened at $4.97 on Monday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average price is $5.27 and its two-hundred day moving average price is $5.55. ACCO Brands has a fifty-two week low of $4.64 and a fifty-two week high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.19% and a negative net margin of 1.36%. The company had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. Sell-side analysts forecast that ACCO Brands will post 1.07 EPS for the current year.

ACCO Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 6.04%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s payout ratio is currently -111.11%.

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.