Analysts expect Office Depot Inc (NASDAQ:ODP) to report $0.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Office Depot’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.08. Office Depot posted earnings per share of $0.11 in the same quarter last year, which would indicate a negative year-over-year growth rate of 36.4%. The business is scheduled to announce its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Office Depot will report full-year earnings of $0.44 per share for the current fiscal year, with EPS estimates ranging from $0.43 to $0.44. For the next financial year, analysts anticipate that the company will report earnings of $0.56 per share, with EPS estimates ranging from $0.37 to $0.73. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Office Depot.
A number of brokerages have recently weighed in on ODP. BidaskClub downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. ValuEngine downgraded shares of Office Depot from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Office Depot from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. downgraded shares of Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.08.
Shares of Office Depot (ODP) opened at $3.11 on Thursday. Office Depot has a twelve month low of $2.89 and a twelve 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. The firm has a market cap of $1,610.00, a P/E ratio of 6.62, a PEG ratio of 0.48 and a beta of 2.47.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 2nd will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, March 1st. Office Depot’s dividend payout ratio is 21.28%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in Office Depot by 425.1% during the 4th quarter. Millennium Management LLC now owns 823,734 shares of the specialty retailer’s stock worth $2,916,000 after purchasing an additional 666,873 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Office Depot during the 4th quarter worth approximately $156,000. Lee Thomas H Partners LP acquired a new position in Office Depot during the 4th quarter worth approximately $150,438,000. Paloma Partners Management Co acquired a new position in Office Depot during the 4th quarter worth approximately $220,000. Finally, Two Sigma Advisers LP increased its position in Office Depot by 14.2% during the 4th quarter. Two Sigma Advisers LP now owns 1,067,313 shares of the specialty retailer’s stock worth $3,778,000 after purchasing an additional 132,743 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.
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.
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