ACCO Brands Co. (NYSE:ACCO – Free Report) – Equities research analysts at Sidoti Csr cut their Q1 2024 earnings estimates for shares of ACCO Brands in a note issued to investors on Monday, February 26th. Sidoti Csr analyst G. Burns now expects that the industrial products company will post earnings of $0.02 per share for the quarter, down from their previous forecast of $0.08. The consensus estimate for ACCO Brands’ current full-year earnings is $1.10 per share. Sidoti Csr also issued estimates for ACCO Brands’ Q2 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $1.08 EPS.
ACCO Brands (NYSE:ACCO – Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $476.37 million. ACCO Brands had a negative net margin of 1.19% and a positive return on equity of 12.78%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share.
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ACCO Brands Stock Down 0.9 %
Shares of NYSE ACCO opened at $5.77 on Tuesday. The stock has a market cap of $547.75 million, a P/E ratio of -24.04, a P/E/G ratio of 0.42 and a beta of 1.68. The firm has a 50 day moving average price of $6.16 and a 200 day moving average price of $5.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.90 and a current ratio of 1.61. ACCO Brands has a 52-week low of $4.30 and a 52-week high of $6.62.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd lifted its position in shares of ACCO Brands by 1,042.2% in the first quarter. Point72 Hong Kong Ltd now owns 3,358 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 3,064 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of ACCO Brands in the first quarter worth $30,000. Tower Research Capital LLC TRC lifted its position in shares of ACCO Brands by 170.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,834 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 3,673 shares in the last quarter. Quarry LP lifted its position in shares of ACCO Brands by 332.7% in the first quarter. Quarry LP now owns 6,733 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 5,177 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of ACCO Brands by 36.0% in the first quarter. Great West Life Assurance Co. Can now owns 7,435 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,968 shares in the last quarter. Institutional investors own 81.01% of the company’s stock.
ACCO Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Thursday, March 14th. ACCO Brands’s payout ratio is currently -125.00%.
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.
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