ACCO Brands (NYSE:ACCO) Updates Q2 Earnings Guidance

ACCO Brands (NYSE:ACCO) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $(0.05)-0.07 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.00. The company issued revenue guidance of $311-389 million, compared to the consensus revenue estimate of $352.75 million.ACCO Brands also updated its Q2 2020
After-Hours guidance to -0.05-0.07 EPS.

A number of brokerages have weighed in on ACCO. TheStreet downgraded shares of ACCO Brands from a b- rating to a c+ rating in a report on Monday, March 2nd. ValuEngine downgraded shares of ACCO Brands from a sell rating to a strong sell rating in a report on Tuesday, March 3rd. Zacks Investment Research raised shares of ACCO Brands from a sell rating to a hold rating in a report on Wednesday, May 13th. Finally, Barrington Research reduced their price objective on shares of ACCO Brands from $13.00 to $9.00 and set an outperform rating for the company in a report on Friday, May 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $9.58.

Shares of ACCO Brands stock traded up $0.25 during mid-day trading on Tuesday, reaching $6.44. 398,056 shares of the stock were exchanged, compared to its average volume of 710,307. The company has a market cap of $602.66 million, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of 1.54 and a beta of 2.13. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. The firm has a 50-day simple moving average of $6.10 and a 200 day simple moving average of $7.72. ACCO Brands has a fifty-two week low of $3.51 and a fifty-two week high of $11.38.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Monday, May 4th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $384.10 million for the quarter, compared to analyst estimates of $395.58 million. ACCO Brands had a return on equity of 15.79% and a net margin of 5.93%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 EPS. On average, research analysts predict that ACCO Brands will post 0.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Wednesday, May 27th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, May 26th. ACCO Brands’s dividend payout ratio (DPR) is currently 21.67%.

About ACCO Brands

ACCO Brands Corporation designs, manufactures, and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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

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