Staples Inc. (SPLS) to Release Earnings on Thursday
Staples Inc. (NASDAQ:SPLS) is scheduled to release its Q316 earnings data on Thursday, November 17th. Analysts expect Staples to post earnings of $0.34 per share and revenue of $5.40 billion for the quarter. Staples has set its Q3 guidance at $0.32-0.35 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.
Staples (NASDAQ:SPLS) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company earned $0.12 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, analysts expect Staples to post $0.89 EPS for the current fiscal year and $0.90 EPS for the next fiscal year.
A number of brokerages have issued reports on SPLS. Zacks Investment Research lowered shares of Staples from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. TheStreet lowered shares of Staples to a “sell” rating in a research report on Friday, August 19th. Jefferies Group set a $9.00 target price on shares of Staples and gave the stock a “hold” rating in a research report on Tuesday, October 4th. Deutsche Bank AG decreased their target price on shares of Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Finally, Morgan Stanley set a $10.00 price target on shares of Staples and gave the stock a “hold” rating in a report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.50.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its position in Staples by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 18,033,899 shares of the company’s stock valued at $155,452,000 after buying an additional 1,122,814 shares during the last quarter. Teachers Advisors Inc. increased its position in Staples by 50.4% in the second quarter. Teachers Advisors Inc. now owns 2,846,030 shares of the company’s stock valued at $24,533,000 after buying an additional 953,753 shares during the last quarter. BlackRock Fund Advisors increased its position in Staples by 5.6% in the second quarter. BlackRock Fund Advisors now owns 14,347,571 shares of the company’s stock valued at $123,676,000 after buying an additional 759,048 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Staples during the third quarter valued at about $5,524,000. Finally, Paloma Partners Management Co increased its position in Staples by 799.8% in the second quarter. Paloma Partners Management Co now owns 590,837 shares of the company’s stock valued at $5,094,000 after buying an additional 525,171 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.
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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