Zacks: Analysts Expect Office Depot Inc (ODP) to Announce $0.08 Earnings Per Share

Wall Street brokerages expect Office Depot Inc (NASDAQ:ODP) to report $0.08 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Office Depot’s earnings. Office Depot also posted earnings of $0.08 per share in the same quarter last year. The business is scheduled to announce 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 year, with EPS estimates ranging from $0.33 to $0.34. For the next year, analysts anticipate that the business will report earnings of $0.38 per share, with EPS estimates ranging from $0.35 to $0.40. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Office Depot.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, November 7th. The specialty retailer reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. Office Depot had a net margin of 0.59% and a return on equity of 8.90%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS.

ODP has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. ValuEngine upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Bank of America set a $5.00 price target on shares of Office Depot and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.17.

A number of large investors have recently bought and sold shares of the stock. Rafferty Asset Management LLC raised its holdings in Office Depot by 94.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 90,361 shares of the specialty retailer’s stock valued at $290,000 after buying an additional 43,795 shares during the last quarter. BlackRock Inc. raised its holdings in Office Depot by 8.9% in the 3rd quarter. BlackRock Inc. now owns 79,174,161 shares of the specialty retailer’s stock worth $254,151,000 after purchasing an additional 6,446,080 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Office Depot by 59.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 64,708 shares of the specialty retailer’s stock worth $207,000 after purchasing an additional 24,007 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Office Depot by 6.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,967,308 shares of the specialty retailer’s stock worth $35,206,000 after purchasing an additional 655,591 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in Office Depot by 16.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 181,047 shares of the specialty retailer’s stock worth $581,000 after purchasing an additional 25,730 shares in the last quarter. Institutional investors own 90.72% of the company’s stock.

NASDAQ:ODP 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 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 has a market cap of $1.89 billion, a P/E ratio of 7.22 and a beta of 2.65.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 21st. This represents a $0.10 dividend on an annualized basis and a yield of 3.08%. Office Depot’s dividend payout ratio is currently 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.

See Also: Fundamental Analysis and Individual Investors

Get a free copy of the Zacks research report on Office Depot (ODP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply