ACCO Brands (NYSE:ACCO) Updates Q2 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.300-0.330 for the period, compared to the consensus estimate of 0.320. The company issued revenue guidance of $449.2 million-$459.0 million, compared to the consensus revenue estimate of $458.3 million. ACCO Brands also updated its FY 2024 guidance to 1.020-1.070 EPS.

ACCO Brands Price Performance

Shares of NYSE ACCO opened at $4.97 on Monday. The stock has a fifty day moving average of $5.27 and a 200-day moving average of $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 has a fifty-two week low of $4.64 and a fifty-two week high of $6.62.

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

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders 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 dividend yield of 6.04%. ACCO Brands’s dividend payout ratio (DPR) is currently -111.11%.

Analysts Set New Price Targets

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

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.