Zacks: Brokerages Expect Staples, Inc. (SPLS) Will Announce Earnings of $0.33 Per Share
Wall Street brokerages expect Staples, Inc. (NASDAQ:SPLS) to announce earnings per share of $0.33 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Staples’ earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.32. Staples posted earnings per share of $0.34 in the same quarter last year, which indicates a negative year-over-year growth rate of 2.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 16th.
According to Zacks, analysts expect that Staples will report full-year earnings of $0.89 per share for the current fiscal year, with EPS estimates ranging from $0.87 to $0.90. For the next financial year, analysts expect that the business will post earnings of $0.85 per share, with EPS estimates ranging from $0.82 to $0.88. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Staples.
Staples (NASDAQ:SPLS) last posted its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year.
Several equities research analysts recently commented on SPLS shares. Deutsche Bank AG set a $8.00 price objective on Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. BidaskClub cut Staples from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, Telsey Advisory Group increased their price objective on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.04.
Staples (SPLS) traded up 0.29% during mid-day trading on Thursday, reaching $10.22. 7,856,626 shares of the company’s stock traded hands. The company has a 50 day moving average price of $10.15 and a 200-day moving average price of $9.45. Staples has a 12 month low of $7.24 and a 12 month high of $10.25. The stock’s market cap is $6.71 billion.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock worth $420,078,000 after buying an additional 46,465,935 shares in the last quarter. Oldfield Partners LLP purchased a new position in Staples during the first quarter worth $124,653,000. CNH Partners LLC purchased a new position in Staples during the second quarter worth $63,079,000. Quinn Opportunity Partners LLC increased its position in Staples by 3,854.3% in the second quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock worth $55,675,000 after buying an additional 5,388,948 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock worth $132,163,000 after buying an additional 4,930,604 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors.
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Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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