ACCO Brands (NYSE:ACCO) Issues FY 2022 Earnings Guidance

ACCO Brands (NYSE:ACCOGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.480-$1.580 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.550. The company issued revenue guidance of $2.05 billion-$2.15 billion, compared to the consensus revenue estimate of $2.10 billion.

Shares of ACCO Brands stock traded down $0.21 during midday trading on Tuesday, hitting $7.62. The company had a trading volume of 543,484 shares, compared to its average volume of 556,258. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.31. The stock has a market capitalization of $737.91 million, a P/E ratio of 7.46 and a beta of 1.98. The company has a 50 day moving average of $8.21 and a 200 day moving average of $8.36. ACCO Brands has a 52-week low of $7.51 and a 52-week high of $9.77.

ACCO Brands (NYSE:ACCOGet Rating) last posted its quarterly earnings results on Tuesday, February 15th. The industrial products company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $570.30 million for the quarter, compared to the consensus estimate of $560.93 million. ACCO Brands had a return on equity of 17.43% and a net margin of 5.03%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. Equities research analysts forecast that ACCO Brands will post 1.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 29th. Investors of record on Friday, March 18th were paid a $0.075 dividend. The ex-dividend date was Thursday, March 17th. This represents a $0.30 annualized dividend and a dividend yield of 3.94%. ACCO Brands’s payout ratio is currently 28.57%.

ACCO has been the topic of several recent research reports. Zacks Investment Research downgraded ACCO Brands from a hold rating to a sell rating in a research note on Wednesday, April 20th. StockNews.com started coverage on ACCO Brands in a research report on Thursday, March 31st. They issued a buy rating on the stock.

In other news, SVP Pamela R. Schneider sold 49,735 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $8.60, for a total value of $427,721.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald M. Lombardi purchased 60,000 shares of the company’s stock in a transaction dated Thursday, February 17th. The stock was purchased at an average price of $8.85 per share, for a total transaction of $531,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 216,221 shares of company stock worth $1,857,793 over the last ninety days. 6.10% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in ACCO Brands by 4.2% during the fourth quarter. Deutsche Bank AG now owns 57,151 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 2,288 shares in the last quarter. California State Teachers Retirement System lifted its position in ACCO Brands by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 131,033 shares of the industrial products company’s stock valued at $1,082,000 after purchasing an additional 3,091 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in ACCO Brands by 1.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 395,212 shares of the industrial products company’s stock valued at $3,264,000 after purchasing an additional 3,779 shares in the last quarter. UBS Group AG lifted its position in ACCO Brands by 28.4% during the third quarter. UBS Group AG now owns 21,933 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 4,845 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in ACCO Brands by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,595,978 shares of the industrial products company’s stock valued at $13,182,000 after purchasing an additional 8,092 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

About ACCO Brands (Get Rating)

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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, 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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