ACCO Brands FY2024 EPS Forecast Reduced by Noble Financial

ACCO Brands Co. (NYSE:ACCO) – Research analysts at Noble Financial cut their FY2024 earnings per share (EPS) estimates for shares of ACCO Brands in a report released on Monday, November 4th. Noble Financial analyst J. Gomes now forecasts that the industrial products company will earn $1.04 per share for the year, down from their previous estimate of $1.05. The consensus estimate for ACCO Brands’ current full-year earnings is $1.04 per share. Noble Financial also issued estimates for ACCO Brands’ Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.30 EPS and Q4 2025 earnings at $0.44 EPS.

ACCO has been the topic of a number of other research reports. StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Barrington Research restated an “outperform” rating and set a $7.00 price target on shares of ACCO Brands in a report on Wednesday, September 4th.

ACCO Brands Stock Performance

NYSE:ACCO opened at $6.06 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.77. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62. The firm has a market cap of $580.54 million, a PE ratio of -3.08, a price-to-earnings-growth ratio of 0.42 and a beta of 1.63. The business has a 50 day moving average price of $5.25 and a 200-day moving average price of $5.03.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 13.77%. The business had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis.

Institutional Trading of ACCO Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Management Corp VA lifted its stake in shares of ACCO Brands by 286.7% in the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after buying an additional 1,802,250 shares in the last quarter. Bank of Montreal Can bought a new stake in ACCO Brands in the 2nd quarter worth about $4,588,000. Millennium Management LLC increased its holdings in ACCO Brands by 116.1% in the 2nd quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock worth $5,517,000 after buying an additional 630,663 shares in the last quarter. American Century Companies Inc. lifted its stake in ACCO Brands by 113.0% during the 2nd quarter. American Century Companies Inc. now owns 1,063,997 shares of the industrial products company’s stock valued at $5,001,000 after acquiring an additional 564,406 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of ACCO Brands by 160.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 819,268 shares of the industrial products company’s stock valued at $3,851,000 after acquiring an additional 504,876 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.30% of the company’s stock.

ACCO Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 15th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 4.95%. ACCO Brands’s dividend payout ratio is -15.87%.

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.