Office Depot Inc (NASDAQ:ODP) has received a consensus rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $5.08.
ODP has been the topic of several analyst reports. JPMorgan Chase & Co. cut Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub cut Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.
Shares of Office Depot (NASDAQ ODP) opened at $3.04 on Friday. The stock has a market capitalization of $1,620.61, a price-to-earnings ratio of 5.15, a PEG ratio of 0.48 and a beta of 2.47. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 0.51. Office Depot has a 52 week low of $2.89 and a 52 week high of $6.26.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. analysts anticipate that Office Depot will post 0.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, March 1st. Office Depot’s dividend payout ratio is presently 16.95%.
Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in shares of Office Depot by 13.4% during the second 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 last quarter. ARP Americas LLC grew its holdings in shares of Office Depot by 298.2% during the third quarter. ARP Americas LLC now owns 44,200 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 33,100 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Office Depot during the fourth quarter worth about $195,000. Public Employees Retirement System of Ohio purchased a new position in shares of Office Depot during the second quarter worth about $370,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Office Depot during the third quarter worth about $344,000. Institutional investors own 91.48% of the company’s stock.
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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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