Office Depot Inc (NASDAQ:ODP) declared a quarterly dividend on Wednesday, November 7th, RTT News reports. Stockholders of record on Friday, November 23rd will be given a dividend of 0.025 per share by the specialty retailer on Friday, December 14th. This represents a $0.10 annualized dividend and a dividend yield of 3.64%.
Office Depot has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Office Depot to earn $0.37 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 27.0%.
Office Depot stock opened at $2.75 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.49 billion, a PE ratio of 6.11 and a beta of 2.65. Office Depot has a 12-month low of $2.00 and a 12-month high of $3.66.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 7th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Office Depot had a net margin of 0.91% and a return on equity of 9.20%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Office Depot will post 0.33 EPS for the current fiscal year.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Office Depot from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Thursday, August 9th. ValuEngine cut shares of Office Depot from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Finally, Bank of America restated a “buy” rating and set a $4.00 target price on shares of Office Depot in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Office Depot presently has an average rating of “Hold” and a consensus target price of $3.75.
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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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