ACCO Brands (NYSE:ACCO) Posts Earnings Results, Beats Estimates By $0.01 EPS

ACCO Brands (NYSE:ACCO) released its earnings results on Thursday. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01, Briefing.com reports. ACCO Brands had a negative net margin of 1.19% and a positive return on equity of 12.94%. The company had revenue of $358.90 million for the quarter, compared to the consensus estimate of $371.80 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was down 10.9% compared to the same quarter last year. 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 Trading Down 0.9 %

ACCO stock traded down $0.04 during trading on Friday, hitting $4.88. 825,208 shares of the company traded hands, compared to its average volume of 676,607. The firm has a market capitalization of $466.25 million, a PE ratio of -20.31, a P/E/G ratio of 0.37 and a beta of 1.66. The company has a 50-day moving average of $5.28 and a 200-day moving average of $5.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58. ACCO Brands has a 1 year low of $4.30 and a 1 year high of $6.62.

ACCO Brands Dividend Announcement

The company 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 is Thursday, May 16th. This represents a $0.30 dividend on an annualized basis and a yield of 6.15%. ACCO Brands’s payout ratio is -125.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACCO. Barrington Research reiterated an “outperform” rating and set a $7.50 price target on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com downgraded shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

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.