Jefferies Group Weighs in on Staples Inc.’s FY2017 Earnings (SPLS)
Staples Inc. (NASDAQ:SPLS) – Jefferies Group dropped their FY2017 EPS estimates for Staples in a report released on Thursday. Jefferies Group analyst D. Binder now forecasts that the firm will post earnings of $0.88 per share for the year, down from their previous forecast of $0.89. Jefferies Group currently has a “Hold” rating and a $9.00 target price on the stock. Jefferies Group also issued estimates for Staples’ Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.35 EPS and Q4 2018 earnings at $0.29 EPS.
A number of other research firms also recently issued reports on SPLS. Zacks Investment Research raised shares of Staples from a “sell” rating to a “hold” rating in a report on Friday. Telsey Advisory Group raised their price objective on shares of Staples from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, November 17th. Citigroup Inc. dropped their price objective on shares of 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 objective on shares of Staples and gave the stock a “hold” rating in a report on Thursday, August 18th. Finally, TheStreet downgraded shares of Staples to a “sell” rating in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.05.
Staples (NASDAQ:SPLS) traded up 2.35% during mid-day trading on Monday, reaching $10.03. 1,673,535 shares of the company were exchanged. The stock has a 50 day moving average of $7.99 and a 200-day moving average of $8.57. Staples has a one year low of $7.24 and a one year high of $12.79. The stock’s market capitalization is $6.52 billion.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Thursday, November 17th. The company reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Staples had a negative net margin of 2.25% and a positive return on equity of 11.46%. Staples’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS.
Several hedge funds have recently modified their holdings of the stock. HighPoint Advisor Group LLC acquired a new stake in Staples during the third quarter worth $466,000. Cornerstone Capital Management Holdings LLC. raised its stake in Staples by 3.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 1,440,032 shares of the company’s stock worth $12,311,000 after buying an additional 45,032 shares during the period. Cullen Capital Management LLC acquired a new stake in Staples during the third quarter worth $519,000. Credit Suisse AG raised its stake in Staples by 24.4% in the third quarter. Credit Suisse AG now owns 1,166,720 shares of the company’s stock worth $9,976,000 after buying an additional 228,526 shares during the period. Finally, Croft Leominster Inc. raised its stake in Staples by 57.9% in the third quarter. Croft Leominster Inc. now owns 586,619 shares of the company’s stock worth $5,015,000 after buying an additional 215,180 shares during the period. 89.68% 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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