Noble Financial Comments on ACCO Brands Co.’s Q2 2024 Earnings (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCO) – Investment analysts at Noble Financial dropped their Q2 2024 earnings per share estimates for ACCO Brands in a research report issued to clients and investors on Monday, May 6th. Noble Financial analyst J. Gomes now forecasts that the industrial products company will earn $0.30 per share for the quarter, down from their prior forecast of $0.31. The consensus estimate for ACCO Brands’ current full-year earnings is $1.07 per share.

Other equities analysts also recently issued reports about the stock. Barrington Research reiterated an “outperform” rating and set a $7.50 price target on shares of ACCO Brands in a report on Thursday, February 29th. StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a research report on Monday.

ACCO Brands Trading Down 1.2 %

ACCO stock opened at $4.91 on Wednesday. The firm’s fifty day simple moving average is $5.23 and its two-hundred day simple moving average is $5.55. The stock has a market capitalization of $469.59 million, a price-to-earnings ratio of -18.19, a price-to-earnings-growth ratio of 0.38 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12. ACCO Brands has a twelve month low of $4.64 and a twelve month high of $6.62.

ACCO Brands (NYSE:ACCO) last released its earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $358.90 million for the quarter, compared to the consensus estimate of $371.80 million. ACCO Brands had a positive return on equity of 12.19% and a negative net margin of 1.36%. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.11%. ACCO Brands’s dividend payout ratio (DPR) is -111.11%.

Institutional Investors Weigh In On ACCO Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in ACCO Brands by 77.6% during the 3rd quarter. SG Americas Securities LLC now owns 54,677 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 23,896 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in ACCO Brands by 18.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 317,276 shares of the industrial products company’s stock worth $1,821,000 after acquiring an additional 49,542 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in ACCO Brands during the 3rd quarter worth about $365,000. Bank of New York Mellon Corp increased its position in ACCO Brands by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,251,344 shares of the industrial products company’s stock valued at $7,183,000 after purchasing an additional 12,919 shares during the period. Finally, Strs Ohio raised its holdings in shares of ACCO Brands by 5.4% in the 3rd quarter. Strs Ohio now owns 111,200 shares of the industrial products company’s stock valued at $638,000 after purchasing an additional 5,700 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

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.