Q2 2024 EPS Estimates for ACCO Brands Co. (NYSE:ACCO) Reduced by Analyst

ACCO Brands Co. (NYSE:ACCO) – Equities researchers at Noble Financial dropped their Q2 2024 EPS estimates for ACCO Brands in a note issued to investors on Monday, May 6th. Noble Financial analyst J. Gomes now forecasts that the industrial products company will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.31. The consensus estimate for ACCO Brands’ current full-year earnings is $1.07 per share.

A number of other equities analysts have also commented on the stock. Barrington Research reissued an “outperform” rating and issued a $7.50 price target on shares of ACCO Brands in a research report on Thursday, February 29th. StockNews.com lowered shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Monday.

ACCO Brands Price Performance

Shares of ACCO opened at $5.02 on Wednesday. The firm has a market cap of $480.11 million, a PE ratio of -18.59, a PEG ratio of 0.38 and a beta of 1.66. The firm’s 50 day moving average price is $5.22 and its 200 day moving average price is $5.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.58. ACCO Brands has a twelve month low of $4.64 and a twelve month high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $358.90 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share.

Institutional Investors Weigh In On ACCO Brands

Several hedge funds and other institutional investors have recently modified their holdings of ACCO. Wellington Management Group LLP boosted its stake in ACCO Brands by 7.7% during the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock worth $31,999,000 after buying an additional 396,588 shares in the last quarter. Olympiad Research LP acquired a new stake in ACCO Brands during the third quarter worth $210,000. Capital Management Corp VA acquired a new stake in ACCO Brands during the fourth quarter worth $3,821,000. Jump Financial LLC boosted its stake in ACCO Brands by 31.9% during the third quarter. Jump Financial LLC now owns 108,268 shares of the industrial products company’s stock worth $621,000 after buying an additional 26,159 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in ACCO Brands during the third quarter worth $483,000. Institutional investors and hedge funds own 84.56% of the company’s stock.

Insider Transactions at ACCO Brands

In other news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the sale, the senior vice president now owns 18,621 shares in the company, valued at $92,360.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be paid a $0.075 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.30 annualized dividend and a dividend yield of 5.98%. ACCO Brands’s payout ratio is -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.