Noble Financial Equities Analysts Reduce Earnings Estimates for ACCO Brands Co. (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCO) – Equities research analysts at Noble Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of ACCO Brands in a report issued on Monday, August 5th. Noble Financial analyst J. Gomes now anticipates that the industrial products company will post earnings of $0.24 per share for the quarter, down from their previous estimate of $0.30. The consensus estimate for ACCO Brands’ current full-year earnings is $1.04 per share. Noble Financial also issued estimates for ACCO Brands’ Q4 2024 earnings at $0.40 EPS and FY2025 earnings at $1.30 EPS.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 12.57%. The business had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. During the same period in the previous year, the company earned $0.38 earnings per share. ACCO Brands’s revenue for the quarter was down 11.3% on a year-over-year basis.

ACCO has been the subject of several other research reports. Barrington Research cut their price objective on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th. StockNews.com lowered ACCO Brands from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

ACCO Brands Stock Up 3.8 %

ACCO stock opened at $4.82 on Wednesday. The stock has a market capitalization of $460.31 million, a price-to-earnings ratio of -17.83, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The company has a 50-day moving average of $4.81 and a two-hundred day moving average of $5.26. ACCO Brands has a 52-week low of $4.36 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.23%. ACCO Brands’s payout ratio is -111.11%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new position in ACCO Brands in the 4th quarter valued at approximately $50,000. Cerity Partners LLC acquired a new position in shares of ACCO Brands in the fourth quarter valued at $180,000. Mackenzie Financial Corp lifted its position in ACCO Brands by 36.3% in the fourth quarter. Mackenzie Financial Corp now owns 48,932 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 13,027 shares during the period. Capital Management Corp VA acquired a new stake in ACCO Brands during the fourth quarter worth $3,821,000. Finally, Wedge Capital Management L L P NC increased its holdings in ACCO Brands by 8.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 82,879 shares of the industrial products company’s stock valued at $504,000 after buying an additional 6,738 shares during the period. Institutional investors and hedge funds own 84.56% of the company’s stock.

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.