Acco Brands (NYSE:ACCO) Announces Earnings Results, Beats Expectations By $0.09 EPS

Acco Brands (NYSE:ACCO) posted its earnings results on Thursday. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09, FiscalAI reports. Acco Brands had a net margin of 3.74% and a return on equity of 12.57%. The business had revenue of $380.30 million for the quarter, compared to analysts’ expectations of $383.70 million.

Acco Brands Stock Performance

NYSE:ACCO remained flat at $4.38 on Thursday. 823,250 shares of the company’s stock were exchanged, compared to its average volume of 851,320. The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $404.32 million, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. Acco Brands has a 1-year low of $2.81 and a 1-year high of $4.74. The stock’s 50 day moving average is $4.36 and its two-hundred day moving average is $3.95.

Acco Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, November 20th. Acco Brands’s dividend payout ratio (DPR) is currently 48.39%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACCO shares. Weiss Ratings raised shares of Acco Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Wall Street Zen cut shares of Acco Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Barrington Research set a $6.00 target price on Acco Brands in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Acco Brands presently has an average rating of “Hold” and a consensus target price of $6.00.

Acco Brands Company Profile

ACCO Brands Corporation is a global manufacturer and marketer of consumer and office products. Its portfolio includes supplies and equipment used in workplaces, schools and homes, as well as products designed to support organization, productivity and personal technology.

The company’s brands include Swingline, Kensington, Mead, Five Star, GBC, Quartet and Esselte. Its products include staplers, punches, shredders, laminators, binding systems, presentation supplies, notebooks, planners, backpacks, computer accessories and other workspace and school supplies.

ACCO Brands traces its history to the American Clip Company, founded in 1903.