Shares of Essendant Inc. (NASDAQ:ESND) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $16.50.
A number of brokerages have issued reports on ESND. ValuEngine lowered Essendant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered Essendant from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered Essendant from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, TheStreet lowered Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th.
Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its position in shares of Essendant by 77.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,344 shares of the company’s stock valued at $108,000 after purchasing an additional 3,204 shares in the last quarter. Hartford Investment Management Co. acquired a new position in shares of Essendant in the 2nd quarter valued at approximately $163,000. Smith Asset Management Group LP acquired a new position in shares of Essendant in the 3rd quarter valued at approximately $154,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Essendant during the 2nd quarter valued at approximately $179,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Essendant by 5.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the company’s stock valued at $191,000 after acquiring an additional 700 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors.
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Essendant (NASDAQ ESND) opened at $9.01 on Wednesday. The firm has a market capitalization of $337.75, a P/E ratio of 16.70 and a beta of 1.21. Essendant has a fifty-two week low of $8.79 and a fifty-two week high of $22.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02.
Essendant (NASDAQ:ESND) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Thursday, December 14th. Essendant’s payout ratio is -7.67%.
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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