Barrington Research Weighs in on ACCO Brands Co.’s Q3 2024 Earnings (NYSE:ACCO)

ACCO Brands Co. (NYSE:ACCO) – Analysts at Barrington Research reduced their Q3 2024 earnings estimates for shares of ACCO Brands in a research note issued to investors on Wednesday, September 4th. Barrington Research analyst K. Steinke now forecasts that the industrial products company will post earnings per share of $0.22 for the quarter, down from their previous estimate of $0.25. Barrington Research has a “Outperform” rating and a $7.00 price target on the stock. The consensus estimate for ACCO Brands’ current full-year earnings is $1.04 per share. Barrington Research also issued estimates for ACCO Brands’ Q4 2024 earnings at $0.42 EPS and FY2025 earnings at $1.08 EPS.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The business had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was down 11.3% on a year-over-year basis.

Separately, StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

ACCO Brands Stock Down 2.3 %

ACCO opened at $5.20 on Thursday. The business’s fifty day simple moving average is $4.97 and its 200 day simple moving average is $5.10. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. The stock has a market cap of $496.64 million, a PE ratio of -19.24, a P/E/G ratio of 0.44 and a beta of 1.62.

ACCO Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.77%. The ex-dividend date was Friday, August 16th. ACCO Brands’s dividend payout ratio (DPR) is presently -111.11%.

Insiders Place Their Bets

In other news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now directly owns 243,899 shares in the company, valued at $1,334,127.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ACCO Brands

A number of large investors have recently made changes to their positions in ACCO. Hillsdale Investment Management Inc. raised its stake in ACCO Brands by 7.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 29,000 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 2,000 shares during the last quarter. EMC Capital Management increased its position in shares of ACCO Brands by 8.8% in the 1st quarter. EMC Capital Management now owns 31,083 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 2,509 shares during the last quarter. DMC Group LLC boosted its position in shares of ACCO Brands by 15.5% during the 2nd quarter. DMC Group LLC now owns 23,749 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 3,192 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in ACCO Brands by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 118,786 shares of the industrial products company’s stock valued at $667,000 after purchasing an additional 3,811 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in ACCO Brands by 13.4% in the second quarter. Mackenzie Financial Corp now owns 63,363 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 7,495 shares in the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.