ACCO Brands (NYSE:ACCO) Releases FY24 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.04-1.09 for the period, compared to the consensus earnings per share estimate of $1.04. The company issued revenue guidance of $1.67-$1.69 billion, compared to the consensus revenue estimate of $1.67 billion. ACCO Brands also updated its FY 2024 guidance to 1.040-1.090 EPS.

Wall Street Analysts Forecast Growth

ACCO has been the topic of several research analyst reports. Barrington Research reissued an “outperform” rating and set a $7.00 target price on shares of ACCO Brands in a research report on Wednesday, September 4th. StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Price Performance

NYSE:ACCO traded up $0.36 during trading hours on Friday, reaching $5.26. 1,769,445 shares of the company’s stock were exchanged, compared to its average volume of 522,575. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. ACCO Brands has a 1-year low of $4.36 and a 1-year high of $6.62. The company has a 50-day moving average of $5.24 and a 200 day moving average of $5.02.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The firm had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 13.77%. ACCO Brands’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. On average, sell-side analysts predict that ACCO Brands will post 1.04 earnings per share for the current year.

ACCO Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date is Friday, November 15th. ACCO Brands’s dividend payout ratio is currently -15.87%.

Insider Buying and Selling at ACCO Brands

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.30% of the stock is owned by corporate insiders.

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.