Staples Inc. (SPLS) Receives “Neutral” Rating from Jefferies Group
“DRI delivered a better than expected F1Q with inline +1.3% blended SSS and EPS of $0.88, $0.06 above expectations, helped by a $0.04 gain (included in prior guidance) and buybacks. F17 SSS guide maintained at 1%-2%, but EPS raised by $0.07 at the midpoint to $3.92. We believe DRI remains positioned to continue its company-specific momentum in the near-term in a challenging environment where we expect weak C3Q reports overall.”,” the firm’s analyst commented.
Other research analysts also recently issued research reports about the company. Argus restated a hold rating on shares of Staples in a research note on Friday, July 15th. Zacks Investment Research cut Staples from a buy rating to a hold rating in a report on Friday, August 19th. Vetr raised Staples from a buy rating to a strong-buy rating and set a $9.50 price target on the stock in a report on Monday, June 27th. Deutsche Bank AG lowered their price target on Staples from $9.00 to $8.00 and set a hold rating on the stock in a report on Thursday, August 18th. Finally, Morgan Stanley set a $10.00 price target on Staples and gave the company a hold rating in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $11.29.
Shares of Staples (NASDAQ:SPLS) opened at 8.18 on Wednesday. Staples has a 12-month low of $8.00 and a 12-month high of $13.50. The firm’s market capitalization is $5.32 billion. The stock has a 50 day moving average of $8.52 and a 200-day moving average of $9.23.
Staples (NASDAQ:SPLS) last issued its earnings results on Wednesday, August 17th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The business earned $4.80 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Staples will post $0.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 23rd will be given a $0.12 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.83%. Staples’s dividend payout ratio is currently -70.59%.
Large investors have recently modified their holdings of the company. Kleinwort Benson Investors Dublin Ltd acquired a new stake in shares of Staples during the second quarter worth $100,162,000. Renaissance Technologies LLC raised its stake in shares of Staples by 405.7% in the first quarter. Renaissance Technologies LLC now owns 8,998,779 shares of the company’s stock worth $99,257,000 after buying an additional 7,219,432 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Staples by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 35,891,328 shares of the company’s stock worth $309,382,000 after buying an additional 6,946,466 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Staples by 159.3% in the second quarter. Ameriprise Financial Inc. now owns 3,840,622 shares of the company’s stock worth $33,107,000 after buying an additional 2,359,654 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Staples by 31.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,174,413 shares of the company’s stock worth $61,842,000 after buying an additional 1,715,951 shares in the last quarter. Hedge funds and other institutional investors own 86.59% of the company’s stock.
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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