ACCO Brands (NYSE:ACCO) Earns Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of ACCO Brands (NYSE:ACCOFree Report) in a research report report published on Thursday, Benzinga reports. Barrington Research currently has a $7.50 price target on the industrial products company’s stock. Barrington Research also issued estimates for ACCO Brands’ Q1 2024 earnings at $0.02 EPS, Q2 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.07 EPS and FY2025 earnings at $1.23 EPS.

Separately, StockNews.com cut shares of ACCO Brands from a strong-buy rating to a buy rating in a research report on Wednesday.

Read Our Latest Stock Analysis on ACCO

ACCO Brands Trading Up 0.4 %

Shares of ACCO stock opened at $5.60 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.58 and a quick ratio of 0.90. The firm has a market cap of $531.61 million, a PE ratio of -23.33, a price-to-earnings-growth ratio of 0.43 and a beta of 1.64. The company has a 50-day moving average of $6.15 and a two-hundred day moving average of $5.61. ACCO Brands has a 1-year low of $4.30 and a 1-year high of $6.62.

ACCO Brands (NYSE:ACCOGet Free Report) last issued its quarterly earnings results on Friday, February 23rd. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $488.60 million for 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 quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts predict that ACCO Brands will post 1.07 EPS for the current year.

ACCO Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Friday, March 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.30 annualized dividend and a yield of 5.36%. ACCO Brands’s dividend payout ratio (DPR) is -125.00%.

Institutional Trading of ACCO Brands

Several hedge funds have recently added to or reduced their stakes in ACCO. Point72 Hong Kong Ltd raised its holdings in ACCO Brands by 1,042.2% in the first quarter. Point72 Hong Kong Ltd now owns 3,358 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 3,064 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in ACCO Brands in the first quarter valued at approximately $30,000. Tower Research Capital LLC TRC raised its holdings in ACCO Brands by 170.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,834 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 3,673 shares in the last quarter. Quarry LP raised its holdings in ACCO Brands by 332.7% during the first quarter. Quarry LP now owns 6,733 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 5,177 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in ACCO Brands during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 81.01% of the company’s stock.

ACCO Brands Company Profile

(Get Free Report)

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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