ACCO Brands (NYSE:ACCO) Releases Q2 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.30 to $0.33 for the period, compared to the consensus estimate of $0.32. The company issued revenue guidance of -9 to -7% yr/yr or $449.54 million to $459.42 million, compared to the consensus revenue estimate of $458.30 million. ACCO Brands also updated its FY24 guidance to $1.02 to $1.07 EPS.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barrington Research reissued 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 ACCO Brands from a strong-buy rating to a buy rating in a research note on Wednesday, February 28th.

ACCO Brands Trading Up 3.7 %

Shares of ACCO traded up $0.17 during trading hours on Thursday, hitting $4.94. The stock had a trading volume of 763,631 shares, compared to its average volume of 674,853. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a market cap of $471.98 million, a P/E ratio of -19.83, a P/E/G ratio of 0.38 and a beta of 1.66. The company’s fifty day simple moving average is $5.31 and its 200 day simple moving average is $5.56. ACCO Brands has a 12-month low of $4.30 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Friday, February 23rd. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $488.60 million for the quarter, compared to analyst estimates of $476.37 million. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. Equities research analysts forecast that ACCO Brands will post 1.07 EPS for the current fiscal year.

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 6.08%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s dividend payout ratio (DPR) is currently -125.00%.

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.