ACCO Brands (NYSE:ACCO) Announces Earnings Results

ACCO Brands (NYSE:ACCO) released its quarterly earnings results on Thursday. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01, Briefing.com reports. The company had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $371.80 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. ACCO Brands updated its Q2 guidance to $0.30 to $0.33 EPS and its FY24 guidance to $1.02 to $1.07 EPS.

ACCO Brands Price Performance

ACCO stock opened at $4.88 on Friday. The stock has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $5.55. The company has a market cap of $466.25 million, a PE ratio of -20.31, a price-to-earnings-growth ratio of 0.37 and a beta of 1.66. 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 12-month low of $4.30 and a 12-month high of $6.62.

ACCO Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Thursday, May 16th. ACCO Brands’s dividend payout ratio (DPR) is currently -125.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ACCO shares. Barrington Research reaffirmed an “outperform” rating and set a $7.50 price target on shares of ACCO Brands in a research note on Thursday, February 29th. StockNews.com lowered shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

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.