ACCO Brands (NYSE:ACCO) Releases Q2 2024 Earnings Guidance

ACCO Brands (NYSE:ACCO) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.300-0.330 for the period, compared to the consensus earnings per share estimate of 0.320. The company issued revenue guidance of $449.2 million-$459.0 million, compared to the consensus revenue estimate of $458.3 million. ACCO Brands also updated its FY 2024 guidance to 1.020-1.070 EPS.

ACCO Brands Stock Performance

Shares of ACCO Brands stock opened at $4.97 on Monday. ACCO Brands has a 12-month low of $4.64 and a 12-month high of $6.62. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average is $5.27 and its 200-day moving average is $5.55.

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

ACCO Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Wall Street Analysts Forecast Growth

ACCO has been the subject of several research analyst reports. StockNews.com downgraded ACCO Brands from a strong-buy rating to a buy rating in a research note on Wednesday, February 28th. 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 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.