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

ACCO Brands (NYSE:ACCO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.020-1.070 for the period, compared to the consensus estimate of 1.070. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.8 billion. ACCO Brands also updated its Q2 2024 guidance to 0.300-0.330 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACCO. Barrington Research reissued an outperform rating and set a $7.50 price target on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com cut shares of ACCO Brands from a strong-buy rating to a buy rating in a report on Wednesday, February 28th.

ACCO Brands Stock Up 0.8 %

ACCO Brands stock traded up $0.04 during mid-day trading on Monday, reaching $4.92. The company had a trading volume of 45,411 shares, compared to its average volume of 669,242. ACCO Brands has a 1 year low of $4.64 and a 1 year high of $6.62. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The stock’s 50-day simple moving average is $5.27 and its 200-day simple moving average is $5.55.

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

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Thursday, May 16th. ACCO Brands’s dividend payout ratio is presently -111.11%.

About ACCO Brands

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.