ACCO Brands Co. to Post Q3 2024 Earnings of $0.25 Per Share, Barrington Research Forecasts (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCOFree Report) – Stock analysts at Barrington Research dropped their Q3 2024 earnings per share (EPS) estimates for ACCO Brands in a research report issued to clients and investors on Thursday, June 6th. Barrington Research analyst K. Steinke now forecasts that the industrial products company will earn $0.25 per share for the quarter, down from their prior forecast of $0.27. Barrington Research currently has a “Outperform” rating and a $7.00 price target on the stock. The consensus estimate for ACCO Brands’ current full-year earnings is $1.05 per share. Barrington Research also issued estimates for ACCO Brands’ Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $1.02 EPS and FY2025 earnings at $1.17 EPS.

ACCO Brands (NYSE:ACCOGet Free Report) last released its earnings results on Friday, May 3rd. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. The firm had revenue of $358.90 million for the quarter, compared to analysts’ expectations of $371.80 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was down 10.9% on a year-over-year basis.

Separately, StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a report on Thursday.

Read Our Latest Stock Report on ACCO

ACCO Brands Trading Down 3.7 %

ACCO Brands stock opened at $4.96 on Monday. 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 has a one year low of $4.64 and a one year high of $6.62. The stock has a market capitalization of $474.18 million, a PE ratio of -18.37, a price-to-earnings-growth ratio of 0.39 and a beta of 1.63. The business’s fifty day moving average is $5.05 and its 200 day moving average is $5.56.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Thursday, May 16th. ACCO Brands’s dividend payout ratio is currently -111.11%.

Insider Buying and Selling

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the transaction, the senior vice president now owns 18,621 shares in the company, valued at approximately $92,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ACCO Brands

A number of institutional investors and hedge funds have recently modified their holdings of ACCO. Principal Financial Group Inc. boosted its holdings in shares of ACCO Brands by 48.8% in the 3rd quarter. Principal Financial Group Inc. now owns 38,100 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 12,497 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ACCO Brands by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,353,607 shares of the industrial products company’s stock worth $13,510,000 after purchasing an additional 147,196 shares during the period. EMC Capital Management boosted its holdings in shares of ACCO Brands by 91.2% in the 3rd quarter. EMC Capital Management now owns 28,574 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 13,631 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of ACCO Brands by 15.1% in the 3rd quarter. WINTON GROUP Ltd now owns 17,172 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 2,255 shares during the period. Finally, Aigen Investment Management LP lifted its stake in shares of ACCO Brands by 31.9% during the 3rd quarter. Aigen Investment Management LP now owns 44,389 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 10,729 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

About ACCO Brands

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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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Earnings History and Estimates for ACCO Brands (NYSE:ACCO)

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