Office Depot (ODP) Getting Somewhat Favorable Media Coverage, Analysis Shows

Media headlines about Office Depot (NASDAQ:ODP) have trended somewhat positive on Thursday, according to Accern. The research firm ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Office Depot earned a news impact score of 0.22 on Accern’s scale. Accern also gave media coverage about the specialty retailer an impact score of 46.1947570770295 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday. J P Morgan Chase & Co lowered Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. BidaskClub upgraded Office Depot from a “sell” rating to a “hold” rating in a research note on Saturday, October 7th. Jefferies Group reiterated a “hold” rating and issued a $4.15 price objective (down from $5.00) on shares of Office Depot in a research note on Friday, October 6th. Finally, Bank of America reiterated a “buy” rating and issued a $6.00 price objective on shares of Office Depot in a research note on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Office Depot presently has an average rating of “Hold” and a consensus target price of $5.08.

Shares of Office Depot (NASDAQ ODP) opened at $3.26 on Thursday. The company has a market capitalization of $1,739.32, a P/E ratio of 7.17, a P/E/G ratio of 1.05 and a beta of 2.87. Office Depot has a 12-month low of $2.97 and a 12-month high of $6.26. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. Office Depot’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. analysts anticipate that Office Depot will post 0.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.10 dividend on an annualized basis and a yield of 3.07%. Office Depot’s dividend payout ratio (DPR) is presently 16.95%.

In other Office Depot news, insider Michael R. Allison sold 360,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.43% of the stock is currently owned by corporate insiders.

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About Office Depot

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.

Insider Buying and Selling by Quarter for Office Depot (NASDAQ:ODP)

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