Brokerages Expect Office Depot, Inc. (ODP) Will Post Earnings of $0.09 Per Share
Wall Street brokerages expect Office Depot, Inc. (NASDAQ:ODP) to announce earnings of $0.09 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Office Depot’s earnings. The lowest EPS estimate is $0.06 and the highest is $0.11. Office Depot reported earnings per share of $0.03 during the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The company is expected to issue its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Office Depot will report full-year earnings of $0.53 per share for the current year, with EPS estimates ranging from $0.48 to $0.58. For the next financial year, analysts forecast that the firm will report earnings of $0.57 per share, with EPS estimates ranging from $0.50 to $0.66. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Office Depot.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Tuesday, May 9th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. Office Depot had a return on equity of 13.39% and a net margin of 3.93%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS.
Several analysts recently commented on the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Office Depot in a research note on Tuesday, May 9th. Telsey Advisory Group boosted their price target on Office Depot from $4.40 to $5.25 and gave the company a “market perform” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Wednesday, May 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $5.00 price target (up previously from $4.50) on shares of Office Depot in a research note on Wednesday, May 10th. Finally, BidaskClub raised Office Depot from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.12.
Office Depot (ODP) traded up 2.88% during midday trading on Thursday, hitting $5.72. The company had a trading volume of 5,488,334 shares. The company has a market cap of $2.96 billion, a P/E ratio of 5.16 and a beta of 2.97. Office Depot has a one year low of $3.01 and a one year high of $5.77. The company’s 50 day moving average is $5.30 and its 200-day moving average is $4.82.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 25th were paid a dividend of $0.025 per share. The ex-dividend date was Tuesday, May 23rd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.75%. Office Depot’s dividend payout ratio (DPR) is presently 12.05%.
In related news, insider Michael R. Allison sold 66,217 shares of Office Depot stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $5.08, for a total transaction of $336,382.36. Following the completion of the sale, the insider now directly owns 763,691 shares of the company’s stock, valued at $3,879,550.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.43% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in Office Depot by 33.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock worth $101,000 after buying an additional 5,400 shares during the last quarter. Horizon Investment Services LLC acquired a new position in Office Depot during the first quarter worth about $111,000. Envestnet Asset Management Inc. boosted its position in Office Depot by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 25,558 shares of the specialty retailer’s stock worth $119,000 after buying an additional 1,927 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Office Depot by 19.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,787 shares of the specialty retailer’s stock worth $120,000 after buying an additional 4,202 shares during the last quarter. Finally, Ronald Blue & Co. LLC acquired a new position in Office Depot during the first quarter worth about $120,000. 91.73% of the stock is owned by institutional investors and hedge funds.
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Office Depot Company Profile
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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