Staples Inc. (NASDAQ:SPLS) posted its quarterly earnings results on Thursday. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.40 billion. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. During the same quarter in the prior year, the business posted $0.35 EPS.

Staples (NASDAQ:SPLS) opened at 8.98 on Thursday. The company’s market capitalization is $5.84 billion. The company has a 50-day moving average price of $7.89 and a 200-day moving average price of $8.59. Staples has a one year low of $7.24 and a one year high of $12.79.

Earnings History for Staples (NASDAQ:SPLS)

A number of institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Staples by 5.4% in the third quarter. Mackenzie Financial Corp now owns 12,265 shares of the company’s stock worth $105,000 after buying an additional 624 shares during the period. Advantus Capital Management Inc raised its position in Staples by 1.0% in the second quarter. Advantus Capital Management Inc now owns 62,811 shares of the company’s stock valued at $541,000 after buying an additional 643 shares in the last quarter. Bank of Nova Scotia raised its position in Staples by 6.8% in the second quarter. Bank of Nova Scotia now owns 12,798 shares of the company’s stock valued at $110,000 after buying an additional 820 shares in the last quarter. ProShare Advisors LLC raised its position in Staples by 1.5% in the second quarter. ProShare Advisors LLC now owns 109,637 shares of the company’s stock valued at $945,000 after buying an additional 1,590 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Staples by 18.5% in the second quarter. Pacer Advisors Inc. now owns 12,936 shares of the company’s stock valued at $112,000 after buying an additional 2,024 shares in the last quarter. 87.50% of the stock is owned by institutional investors.

SPLS has been the topic of several recent research reports. Deutsche Bank AG cut their price target on Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, August 18th. Jefferies Group restated a “hold” rating and issued a $9.00 price target on shares of Staples in a research note on Thursday, August 18th. TheStreet downgraded Staples to a “sell” rating in a research note on Friday, August 19th. Morgan Stanley set a $10.00 price target on Staples and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, Zacks Investment Research downgraded Staples from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Staples presently has an average rating of “Hold” and an average target price of $10.50.

Staples Company Profile

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.

5 Day Chart for NASDAQ:SPLS

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