Staples Inc. (SPLS) Releases Q4 Earnings Guidance
Staples Inc. (NASDAQ:SPLS) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.23-0.26 for the period, compared to the Thomson Reuters consensus estimate of $0.27.
Shares of Staples Inc. (NASDAQ:SPLS) opened at 9.33 on Friday. The company’s 50-day moving average price is $7.92 and its 200 day moving average price is $8.60. The company’s market cap is $6.07 billion. Staples Inc. has a 52 week low of $7.24 and a 52 week high of $12.79.
Staples (NASDAQ:SPLS) last issued its quarterly earnings results on Thursday, November 17th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Staples Inc. will post $0.89 EPS for the current fiscal year.
A number of analysts have recently commented on SPLS shares. TheStreet lowered Staples to a sell rating in a report on Friday, August 19th. Jefferies Group restated a neutral rating on shares of Staples in a report on Wednesday, October 5th. Citigroup Inc. cut their price target on Staples from $18.00 to $15.00 and set a neutral rating on the stock in a report on Thursday, August 25th. Morgan Stanley set a $10.00 price target on Staples and gave the company a hold rating in a report on Thursday, August 18th. Finally, Deutsche Bank AG lowered their target price on Staples from $9.00 to $8.00 and set a hold rating on the stock in a research 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 assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $10.05.
Large investors have recently modified their holdings of the company. Employees Retirement System of Texas boosted its stake in shares of Staples by 68.1% in the second quarter. Employees Retirement System of Texas now owns 79,000 shares of the company’s stock worth $681,000 after buying an additional 32,000 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Staples by 8.3% in the second quarter. Commonwealth Bank of Australia now owns 201,226 shares of the company’s stock valued at $1,733,000 after buying an additional 15,400 shares during the period. Tredje AP fonden boosted its stake in shares of Staples by 97.6% in the second quarter. Tredje AP fonden now owns 104,463 shares of the company’s stock valued at $913,000 after buying an additional 51,593 shares during the period. Sentry Investment Management LLC boosted its stake in shares of Staples by 545.3% in the second quarter. Sentry Investment Management LLC now owns 43,158 shares of the company’s stock valued at $372,000 after buying an additional 36,470 shares during the period. Finally, Freestone Capital Holdings LLC boosted its stake in shares of Staples by 60.4% in the second quarter. Freestone Capital Holdings LLC now owns 189,020 shares of the company’s stock valued at $1,629,000 after buying an additional 71,145 shares during the period. Institutional investors own 87.50% of the company’s stock.
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.
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