Office Depot Inc (NASDAQ:ODP) shares hit a new 52-week low on Tuesday . The company traded as low as $2.26 and last traded at $2.26, with a volume of 4489516 shares changing hands. The stock had previously closed at $2.31.
A number of brokerages recently weighed in on ODP. ValuEngine downgraded Office Depot from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub downgraded Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Jefferies Group reissued a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.08.
The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1,280.87, a PE ratio of 6.76, a P/E/G ratio of 0.44 and a beta of 2.55.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. Office Depot had a return on equity of 11.74% and a net margin of 1.76%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. sell-side analysts expect that Office Depot Inc will post 0.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 1st. Office Depot’s dividend payout ratio is currently 29.41%.
A number of hedge funds and other institutional investors have recently modified their holdings of ODP. Lee Thomas H Partners LP bought a new position in Office Depot in the 4th quarter worth approximately $150,438,000. Glenhill Advisors LLC acquired a new stake in shares of Office Depot during the 4th quarter worth approximately $24,793,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Office Depot by 16.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,237,692 shares of the specialty retailer’s stock worth $137,279,000 after purchasing an additional 4,305,079 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Office Depot by 8.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 36,937,250 shares of the specialty retailer’s stock worth $167,696,000 after purchasing an additional 2,908,017 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Office Depot by 188.5% during the 4th quarter. Guggenheim Capital LLC now owns 1,961,327 shares of the specialty retailer’s stock worth $6,942,000 after purchasing an additional 1,281,525 shares in the last quarter. 92.95% of the stock is currently owned by institutional investors.
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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.
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