ACCO Brands (NYSE:ACCO) Issues FY 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.020-1.070 for the period, compared to the consensus EPS estimate of 1.070. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.8 billion. ACCO Brands also updated its Q2 2024 guidance to 0.300-0.330 EPS.

Wall Street Analysts Forecast Growth

ACCO has been the subject of several analyst reports. StockNews.com downgraded shares of ACCO Brands from a strong-buy rating to a buy rating in a research report on Wednesday, February 28th. Barrington Research reissued an outperform rating and set a $7.50 target price on shares of ACCO Brands in a research note on Thursday, February 29th.

ACCO Brands Price Performance

Shares of ACCO opened at $4.88 on Monday. ACCO Brands has a 52-week low of $4.30 and a 52-week high of $6.62. 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 business’s 50 day moving average price is $5.27 and its two-hundred day moving average price is $5.55.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.19%. The business had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $371.80 million. During the same period last year, the company posted $0.09 earnings per share. The business’s quarterly revenue was down 10.9% on a year-over-year basis. Research analysts forecast that ACCO Brands will post 1.07 EPS for the current year.

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 dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s dividend payout ratio (DPR) is currently -111.11%.

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.