ACCO Brands (NYSE:ACCO – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.02 to $1.07 for the period, compared to the consensus estimate of $1.07. The company issued revenue guidance of -7 to -5% yr/yr or $1.705 billion to $1.741 billion, compared to the consensus revenue estimate of $1.76 billion. ACCO Brands also updated its Q2 guidance to $0.30 to $0.33 EPS.
ACCO Brands Price Performance
Shares of ACCO stock traded up $0.17 on Thursday, reaching $4.94. The company had a trading volume of 763,631 shares, compared to its average volume of 674,853. The stock has a market capitalization of $471.98 million, a PE ratio of -19.83, a price-to-earnings-growth ratio of 0.38 and a beta of 1.66. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 1.12. ACCO Brands has a one year low of $4.30 and a one year high of $6.62. The business’s 50-day moving average is $5.31 and its 200 day moving average is $5.56.
ACCO Brands (NYSE:ACCO – Get Free Report) last posted its earnings results on Friday, February 23rd. The industrial products company reported $0.39 EPS for the quarter, topping 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 12.94%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts forecast that ACCO Brands will post 1.07 EPS for the current fiscal year.
ACCO Brands Dividend Announcement
Wall Street Analyst Weigh In
A number of research analysts have recently commented on ACCO shares. StockNews.com cut shares of ACCO Brands from a strong-buy rating to a buy rating in a report on Wednesday, February 28th. Barrington Research reaffirmed an outperform rating and issued a $7.50 price objective on shares of ACCO Brands in a research note on Thursday, February 29th.
ACCO Brands Company Profile
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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