ACCO Brands (NYSE:ACCO) Issues Quarterly Earnings Results

ACCO Brands (NYSE:ACCO - Get Free Report) announced its quarterly earnings data on Thursday. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23, Briefing.com reports. The firm had revenue of $420.90 million during the quarter, compared to analysts' expectations of $418.20 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The company's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. ACCO Brands updated its FY24 guidance to $1.04-1.09 EPS and its FY 2024 guidance to 1.040-1.090 EPS.

ACCO Brands Stock Performance

NYSE:ACCO traded up $0.35 during trading hours on Friday, reaching $5.25. The company had a trading volume of 1,769,440 shares, compared to its average volume of 620,800. The firm has a market cap of $502.95 million, a PE ratio of -2.87, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. ACCO Brands has a 1-year low of $4.36 and a 1-year high of $6.62. The business's 50 day moving average price is $5.24 and its 200-day moving average price is $5.02. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09.

ACCO Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.71%. The ex-dividend date is Friday, November 15th. ACCO Brands's dividend payout ratio is currently -16.39%.

Wall Street Analyst Weigh In

Several brokerages have commented on ACCO. Barrington Research restated an "outperform" rating and set a $7.00 price objective on shares of ACCO Brands in a research note on Wednesday, September 4th. StockNews.com upgraded shares of ACCO Brands from a "hold" rating to a "buy" rating in a research report on Saturday, August 10th.

Insider Activity

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value 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. This represents 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. Insiders own 7.30% of the company's stock.

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.