Wall Street analysts predict that Office Depot Inc (NASDAQ:ODP) will post earnings of $0.08 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Office Depot’s earnings. Office Depot also posted earnings of $0.08 per share during the same quarter last year. The business is expected to report its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Office Depot will report full year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.33 to $0.34. For the next fiscal year, analysts anticipate that the company will report earnings of $0.38 per share, with EPS estimates ranging from $0.35 to $0.40. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Office Depot.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, November 7th. The specialty retailer reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. Office Depot had a net margin of 0.59% and a return on equity of 8.90%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine cut shares of Office Depot from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. BidaskClub cut shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Deutsche Bank set a $4.00 price objective on shares of Office Depot and gave the company a “hold” rating in a research note on Thursday. Finally, Bank of America reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Office Depot in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.17.

Several institutional investors have recently made changes to their positions in ODP. State of Alaska Department of Revenue raised its holdings in Office Depot by 10.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 184,465 shares of the specialty retailer’s stock valued at $592,000 after buying an additional 17,265 shares during the last quarter. Aperio Group LLC raised its holdings in Office Depot by 6.0% during the 3rd quarter. Aperio Group LLC now owns 368,107 shares of the specialty retailer’s stock valued at $1,182,000 after buying an additional 20,769 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Office Depot by 74.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock valued at $133,000 after buying an additional 22,300 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Office Depot by 21.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 132,364 shares of the specialty retailer’s stock valued at $425,000 after buying an additional 23,803 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Office Depot by 59.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 64,708 shares of the specialty retailer’s stock valued at $207,000 after buying an additional 24,007 shares during the last quarter. 90.72% of the stock is owned by institutional investors.

Shares of Office Depot stock opened at $3.25 on Wednesday. Office Depot has a 52-week low of $2.00 and a 52-week high of $3.66. The firm has a market capitalization of $1.89 billion, a PE ratio of 7.22 and a beta of 2.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.35 and a quick ratio of 0.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.08%. Office Depot’s dividend payout ratio (DPR) is 22.22%.

About Office Depot

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

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