$0.20 Earnings Per Share Expected for Essendant Inc (ESND) This Quarter
Brokerages predict that Essendant Inc (NASDAQ:ESND) will report $0.20 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Essendant’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.20. Essendant posted earnings per share of $0.45 in the same quarter last year, which would suggest a negative year over year growth rate of 55.6%. The business is expected to announce its next earnings report after the market closes on Wednesday, April 26th.
On average, analysts expect that Essendant will report full-year earnings of $1.31 per share for the current year, with EPS estimates ranging from $1.21 to $1.40. For the next fiscal year, analysts anticipate that the company will post earnings of $1.42 per share, with EPS estimates ranging from $1.29 to $1.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Essendant.
Essendant (NASDAQ:ESND) last posted its earnings results on Monday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.30. Essendant had a positive return on equity of 11.74% and a negative net margin of 0.55%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.81 earnings per share. Essendant’s revenue for the quarter was down 3.3% compared to the same quarter last year.
Several equities research analysts recently issued reports on ESND shares. Zacks Investment Research upgraded Essendant from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 27th. Jefferies Group LLC reiterated a “hold” rating and set a $15.00 price target (down previously from $18.00) on shares of Essendant in a report on Wednesday, March 1st. Finally, Sidoti downgraded Essendant from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Tuesday, February 28th.
Essendant (NASDAQ:ESND) traded down 0.20% during mid-day trading on Tuesday, reaching $15.06. The company had a trading volume of 166,463 shares. Essendant has a one year low of $13.81 and a one year high of $33.63. The firm’s 50-day moving average is $14.68 and its 200-day moving average is $18.41. The firm has a market capitalization of $564.33 million, a P/E ratio of 8.71 and a beta of 1.34.
The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Wednesday, March 15th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, March 13th. This represents a $0.56 annualized dividend and a yield of 3.72%. Essendant’s dividend payout ratio (DPR) is currently -68.29%.
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In related news, SVP Eric A. Blanchard sold 3,900 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $22.07, for a total transaction of $86,073.00. Following the completion of the sale, the senior vice president now owns 36,913 shares in the company, valued at $814,669.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its stake in shares of Essendant by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,250 shares of the company’s stock valued at $169,000 after buying an additional 140 shares during the period. Pacific Ridge Capital Partners LLC bought a new stake in shares of Essendant during the third quarter valued at about $202,000. Louisiana State Employees Retirement System increased its stake in shares of Essendant by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock valued at $232,000 after buying an additional 400 shares during the period. Ellington Management Group LLC bought a new stake in shares of Essendant during the fourth quarter valued at about $387,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of Essendant by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,040 shares of the company’s stock valued at $419,000 after buying an additional 1,050 shares during the period. Institutional investors and hedge funds own 94.15% of the company’s stock.
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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