Brokers Set Expectations for ACCO Brands Co.’s FY2024 Earnings (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCO) – Equities research analysts at Noble Financial increased their FY2024 earnings estimates for ACCO Brands in a note issued to investors on Monday, May 6th. Noble Financial analyst J. Gomes now anticipates that the industrial products company will post earnings per share of $1.07 for the year, up from their previous forecast of $1.06. The consensus estimate for ACCO Brands’ current full-year earnings is $1.07 per share.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings data on Friday, May 3rd. 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 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 12.19% and a negative net margin of 1.36%. ACCO Brands’s revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS.

ACCO has been the topic of a number of other research reports. StockNews.com downgraded ACCO Brands from a “buy” rating to a “hold” rating in a research report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $7.50 price objective on shares of ACCO Brands in a research report on Thursday, February 29th.

ACCO Brands Trading Up 2.2 %

Shares of ACCO opened at $5.02 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market capitalization of $480.11 million, a price-to-earnings ratio of -18.59, a PEG ratio of 0.38 and a beta of 1.66. The company has a 50-day moving average of $5.22 and a 200 day moving average of $5.55. ACCO Brands has a 1-year low of $4.64 and a 1-year high of $6.62.

Institutional Investors Weigh In On ACCO Brands

Several hedge funds have recently bought and sold shares of ACCO. New York State Teachers Retirement System purchased a new position in shares of ACCO Brands in the 4th quarter valued at about $50,000. MQS Management LLC purchased a new position in shares of ACCO Brands during the 3rd quarter valued at approximately $66,000. SG Americas Securities LLC purchased a new stake in ACCO Brands in the 1st quarter worth $71,000. Gladius Capital Management LP acquired a new position in ACCO Brands during the fourth quarter worth $73,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in ACCO Brands during the third quarter valued at $82,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Insider Transactions at ACCO Brands

In other news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the transaction, the senior vice president now directly owns 18,621 shares in the company, valued at $92,360.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.30% of the company’s stock.

ACCO Brands Dividend Announcement

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 paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 5.98%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s payout ratio is -111.11%.

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.