ACCO Brands (NYSE:ACCO) Issues Earnings Results, Beats Estimates By $0.01 EPS

ACCO Brands (NYSE:ACCO) issued its earnings results on Thursday. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01, Briefing.com reports. ACCO Brands had a positive return on equity of 12.94% and a negative net margin of 1.19%. The business had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $371.80 million. During the same quarter last year, the firm posted $0.09 earnings per share. ACCO Brands’s revenue was down 10.9% compared to the same quarter last year. 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 Trading Down 0.9 %

NYSE:ACCO opened at $4.88 on Friday. 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 company has a market capitalization of $466.25 million, a P/E ratio of -20.31, a P/E/G ratio of 0.37 and a beta of 1.66. The stock’s 50 day moving average price is $5.27 and its 200 day moving average price is $5.55. ACCO Brands has a 52 week low of $4.30 and a 52 week high of $6.62.

ACCO Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

ACCO has been the subject of several research reports. Barrington Research restated an “outperform” rating and set a $7.50 price target on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com downgraded shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note 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.