ACCO Brands Co. (NYSE:ACCO) Forecasted to Earn FY2024 Earnings of $1.07 Per Share

ACCO Brands Co. (NYSE:ACCO) – Stock analysts at Noble Financial boosted their FY2024 earnings estimates for shares of ACCO Brands in a report released on Monday, May 6th. Noble Financial analyst J. Gomes now forecasts that the industrial products company will post earnings of $1.07 per share 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 released its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) 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 analyst estimates of $371.80 million. ACCO Brands had a positive return on equity of 12.19% and a negative net margin of 1.36%. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share.

Several other analysts have also issued reports on the company. StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a research note on Monday. Barrington Research reaffirmed an “outperform” rating and issued a $7.50 target price on shares of ACCO Brands in a research report on Thursday, February 29th.

ACCO Brands Price Performance

NYSE:ACCO opened at $5.02 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average price is $5.22 and its two-hundred day moving average price is $5.55. The firm has a market capitalization of $480.11 million, a price-to-earnings ratio of -18.59, a P/E/G ratio of 0.38 and a beta of 1.66. ACCO Brands has a 12-month low of $4.64 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. Stockholders 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 5.98%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s payout ratio is -111.11%.

Insider Activity

In related news, SVP Angela Y. Jones sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the sale, the senior vice president now owns 18,621 shares of the company’s stock, valued at $92,360.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACCO Brands

A number of large investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its position in ACCO Brands by 15.1% during the third quarter. WINTON GROUP Ltd now owns 17,172 shares of the industrial products company’s stock worth $99,000 after buying an additional 2,255 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in ACCO Brands by 3.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,312 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 2,424 shares during the last quarter. DMC Group LLC lifted its stake in ACCO Brands by 13.8% during the fourth quarter. DMC Group LLC now owns 20,276 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 2,459 shares during the last quarter. AXQ Capital LP lifted its stake in shares of ACCO Brands by 34.8% in the 3rd quarter. AXQ Capital LP now owns 16,770 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 4,332 shares during the last quarter. Finally, Strs Ohio lifted its stake 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 acquiring an additional 5,700 shares during the last quarter. Institutional investors and hedge funds 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.