Office Depot, Inc. (ODP) Releases Quarterly Earnings Results, Hits Estimates
Office Depot, Inc. (NASDAQ:ODP) posted its quarterly earnings results on Thursday. The specialty retailer reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14, Bloomberg Earnings reports. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.61 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share.
Shares of Office Depot (NASDAQ:ODP) traded up $0.03 on Friday, hitting $3.27. 6,688,321 shares of the company’s stock were exchanged, compared to its average volume of 5,899,029. Office Depot has a 1-year low of $2.97 and a 1-year high of $6.26. The firm has a market capitalization of $1,700.00, a PE ratio of 6.14, a PEG ratio of 0.94 and a beta of 2.82. The company has a current ratio of 1.59, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Wednesday, November 22nd. Office Depot’s dividend payout ratio (DPR) is presently 11.24%.
In other Office Depot news, insider Michael R. Allison sold 360,000 shares of Office Depot stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $3.83, for a total transaction of $1,378,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.43% of the stock is owned by company insiders.
Several research firms have recently weighed in on ODP. Bank of America Corporation reissued a “buy” rating and issued a $6.00 price target on shares of Office Depot in a research note on Tuesday, September 5th. BidaskClub downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $5.00 target price (down from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. ValuEngine downgraded shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co downgraded shares of Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Office Depot presently has a consensus rating of “Hold” and an average target price of $5.08.
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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