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

ACCO Brands (NYSE:ACCO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.020-1.070 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barrington Research reissued an outperform rating and issued a $7.50 price target 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 report on Wednesday, February 28th.

ACCO Brands Stock Up 0.8 %

ACCO traded up $0.04 during trading on Monday, hitting $4.92. The company had a trading volume of 45,411 shares, compared to its average volume of 669,242. ACCO Brands has a one year low of $4.64 and a one year high of $6.62. The firm’s 50-day moving average price is $5.27 and its 200 day moving average price is $5.55. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.19%. The firm’s revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. As a group, equities research analysts predict that ACCO Brands will post 1.07 EPS for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.30 annualized dividend and a yield of 6.10%. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

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.