Office Depot (NASDAQ:ODP) Receiving Somewhat Positive Media Coverage, Report Shows
Media coverage about Office Depot (NASDAQ:ODP) has been trending somewhat positive recently, Accern Sentiment reports. Accern identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Office Depot earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave headlines about the specialty retailer an impact score of 71 out of 100, indicating that recent media coverage is likely to have an effect on the company’s share price in the near future.
Here are some of the news stories that may have impacted Accern’s analysis:
- Comparing Price Charts: Discovery Communications, Inc. (DISCA), Office Depot, Inc. (ODP) – StockNewsMagazine (stocknewsmagazine.com)
- Office Depot, Inc. (ODP) closes with a move of -2.04%, First Data Corporation (FDC) noted a price change of -1.49% – Stocks Gallery (stocksgallery.com)
- Staples may spin off 1,500 stores to Office Depot (msn.com)
- Office Depot Inc (ODP) Crosses Pivot Point Resistance at $5.84 (mysmartrend.com)
A number of research firms have issued reports on ODP. BidaskClub cut Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research cut Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Loop Capital reissued a “hold” rating and issued a $5.00 price target on shares of Office Depot in a research report on Wednesday, July 12th. Telsey Advisory Group increased their price target on Office Depot from $4.40 to $5.25 and gave the company a “market perform” rating in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $5.00 price target (up from $4.50) on shares of Office Depot in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $4.78.
Shares of Office Depot (NASDAQ:ODP) traded up 0.52% during midday trading on Thursday, reaching $5.83. The company had a trading volume of 3,339,364 shares. Office Depot has a 1-year low of $3.01 and a 1-year high of $6.15. The stock has a market capitalization of $3.02 billion, a PE ratio of 4.52 and a beta of 2.98. The company’s 50-day moving average is $5.70 and its 200-day moving average is $5.00.
Office Depot (NASDAQ:ODP) last posted its earnings results on Tuesday, May 9th. The specialty retailer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm 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%. Office Depot’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that Office Depot will post $0.53 EPS for the current year.
In other Office Depot news, insider Michael R. Allison sold 66,217 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $5.08, for a total transaction of $336,382.36. Following the transaction, the insider now owns 763,691 shares of the company’s stock, valued at $3,879,550.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.43% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/08/03/office-depot-nasdaqodp-earns-daily-news-impact-rating-of-0-04-updated-updated-updated.html.
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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