Shares of Office Depot, Inc. (NASDAQ:ODP) have earned an average rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.25.
ODP has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Office Depot from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Bank of America Corporation restated a “buy” rating and issued a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. ValuEngine cut shares of Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG restated a “hold” rating and issued a $5.00 target price (down previously from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Finally, Loop Capital restated a “hold” rating and issued a $5.00 target price on shares of Office Depot in a report on Wednesday, July 12th.
Office Depot (NASDAQ:ODP) traded up 3.547% during trading on Tuesday, reaching $4.525. The company’s stock had a trading volume of 1,741,602 shares. Office Depot has a one year low of $3.01 and a one year high of $6.26. The company has a 50-day moving average of $4.82 and a 200 day moving average of $5.02. The firm has a market cap of $2.35 billion, a PE ratio of 5.861 and a beta of 3.08.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.06 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Analysts expect that Office Depot will post $0.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a $0.025 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.29%. Office Depot’s payout ratio is currently 20.00%.
Several hedge funds have recently added to or reduced their stakes in ODP. Nomura Asset Management Co. Ltd. boosted its stake in shares of Office Depot by 33.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 5,400 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Office Depot by 1,292.3% during the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 16,800 shares during the period. Eagle Global Advisors LLC purchased a new position in shares of Office Depot during the 2nd quarter worth about $103,000. PNC Financial Services Group Inc. boosted its stake in shares of Office Depot by 13.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 2,187 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of Office Depot during the 2nd quarter worth about $105,000. 94.07% of the stock is owned by hedge funds and other institutional investors.
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Office Depot Company Profile
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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