Shares of Office Depot (NASDAQ:ODP) have received an average recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.31.
A number of brokerages have recently commented on ODP. ValuEngine cut shares of Office Depot from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. BidaskClub cut shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Zacks Investment Research cut shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Finally, Jefferies Group reissued a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st.
Shares of Office Depot stock traded down $0.05 during trading on Friday, reaching $2.03. The company’s stock had a trading volume of 6,162,370 shares, compared to its average volume of 5,336,897. The stock has a market capitalization of $1,156.15, a price-to-earnings ratio of 4.51, a PEG ratio of 0.39 and a beta of 2.67. Office Depot has a fifty-two week low of $2.02 and a fifty-two week high of $6.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.40 and a quick ratio of 0.87.
Office Depot (NASDAQ:ODP) last announced its earnings results on Wednesday, February 28th. The specialty retailer reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Office Depot had a net margin of 1.76% and a return on equity of 11.74%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. analysts anticipate that Office Depot will post 0.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.10 annualized dividend and a yield of 4.93%. Office Depot’s dividend payout ratio is currently 22.22%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allianz Asset Management GmbH increased its stake in Office Depot by 9.4% in the 4th quarter. Allianz Asset Management GmbH now owns 264,227 shares of the specialty retailer’s stock valued at $936,000 after buying an additional 22,727 shares during the period. Strategic Global Advisors LLC increased its stake in Office Depot by 49.2% in the 3rd quarter. Strategic Global Advisors LLC now owns 84,981 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 28,041 shares during the period. Vident Investment Advisory LLC increased its stake in Office Depot by 6.5% in the 4th quarter. Vident Investment Advisory LLC now owns 464,086 shares of the specialty retailer’s stock valued at $1,643,000 after buying an additional 28,358 shares during the period. Itau Unibanco Holding S.A. increased its stake in Office Depot by 718.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 32,362 shares of the specialty retailer’s stock valued at $115,000 after buying an additional 28,406 shares during the period. Finally, KBC Group NV increased its stake in Office Depot by 40.6% in the 3rd quarter. KBC Group NV now owns 99,986 shares of the specialty retailer’s stock valued at $454,000 after buying an additional 28,857 shares during the period. 92.72% of the stock is currently owned by institutional investors.
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Office Depot Company Profile
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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