Brokers Set Expectations for ACCO Brands Co.'s Q2 2024 Earnings (NYSE:ACCO)

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

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of ACCO Brands from a "buy" rating to a "hold" rating in a research report on Monday. Barrington Research reiterated an "outperform" rating and set a $7.50 price objective on shares of ACCO Brands in a report on Thursday, February 29th.

ACCO Brands Stock Up 2.2 %

Shares of ACCO stock traded up $0.11 during trading on Wednesday, hitting $5.02. 358,659 shares of the company were exchanged, compared to its average volume of 674,661. The business's 50-day simple moving average is $5.23 and its 200 day simple moving average is $5.55. ACCO Brands has a twelve month low of $4.64 and a twelve month high of $6.62. The firm has a market capitalization of $480.11 million, a price-to-earnings ratio of -18.41, a P/E/G ratio of 0.38 and a beta of 1.66. 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 (NYSE:ACCO - Get Free Report) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.19% and a negative net margin of 1.36%. The firm had revenue of $358.90 million during the quarter, compared to the consensus estimate of $371.80 million. During the same period in the prior year, the business earned $0.09 EPS. The business's revenue for the quarter was down 10.9% on a year-over-year basis.

Hedge Funds Weigh In On ACCO Brands

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of ACCO Brands by 7.7% in the 3rd quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company's stock valued at $31,999,000 after acquiring an additional 396,588 shares in the last quarter. Olympiad Research LP bought a new position in shares of ACCO Brands in the third quarter valued at approximately $210,000. Capital Management Corp VA acquired a new stake in shares of ACCO Brands in the fourth quarter worth $3,821,000. Jump Financial LLC boosted its holdings in shares of ACCO Brands by 31.9% during the 3rd 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 during the period. Finally, Alps Advisors Inc. bought a new position in ACCO Brands in the 3rd quarter worth $483,000. 84.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction of $74,400.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.30% of the stock is currently owned by corporate insiders.

ACCO Brands Dividend Announcement

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