A number of other analysts have also recently weighed in on ODP. Zacks Investment Research upgraded shares of Office Depot from a hold rating to a strong-buy rating and set a $2.00 price objective for the company in a research note on Friday, August 9th. Bank of America decreased their price objective on shares of Office Depot from $2.00 to $1.20 and set an underperform rating for the company in a report on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the stock. Office Depot presently has a consensus rating of Hold and a consensus target price of $2.40.
Shares of NASDAQ ODP opened at $1.68 on Friday. The business’s 50-day simple moving average is $1.58 and its 200-day simple moving average is $2.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.07. Office Depot has a 52 week low of $1.23 and a 52 week high of $3.82. The firm has a market cap of $917.92 million, a price-to-earnings ratio of 4.80, a P/E/G ratio of 0.38 and a beta of 2.46.
Office Depot (NASDAQ:ODP) last posted its earnings results on Wednesday, August 7th. The specialty retailer reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.59 billion. Office Depot had a return on equity of 9.35% and a net margin of 0.27%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. As a group, equities research analysts forecast that Office Depot will post 0.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Thursday, August 22nd. Office Depot’s dividend payout ratio is currently 28.57%.
Several institutional investors have recently bought and sold shares of ODP. Cleararc Capital Inc. bought a new stake in Office Depot during the 1st quarter valued at approximately $50,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Office Depot during the 1st quarter worth about $90,000. Balyasny Asset Management LLC acquired a new position in shares of Office Depot during the second quarter valued at about $95,000. Envestnet Asset Management Inc. raised its position in shares of Office Depot by 16.1% during the second quarter. Envestnet Asset Management Inc. now owns 47,689 shares of the specialty retailer’s stock valued at $98,000 after buying an additional 6,629 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. bought a new stake in shares of Office Depot in the second quarter valued at about $111,000. Institutional investors and hedge funds own 92.39% of the company’s stock.
Office Depot Company Profile
Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.
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