Office Depot Inc (NASDAQ:ODP) has been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.08.
A number of equities analysts recently issued reports on ODP shares. BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. lowered Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, ValuEngine lowered Office Depot from a “buy” rating to a “hold” rating in a report on Sunday, December 31st.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Office Depot by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock valued at $250,086,000 after acquiring an additional 1,286,833 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Office Depot by 8.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 36,937,250 shares of the specialty retailer’s stock valued at $167,696,000 after acquiring an additional 2,908,017 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Office Depot by 16.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,237,692 shares of the specialty retailer’s stock valued at $137,279,000 after acquiring an additional 4,305,079 shares during the period. State Street Corp lifted its position in shares of Office Depot by 2.1% during the 2nd quarter. State Street Corp now owns 18,758,006 shares of the specialty retailer’s stock valued at $105,796,000 after acquiring an additional 384,531 shares during the period. Finally, LSV Asset Management lifted its position in shares of Office Depot by 3.7% during the 4th quarter. LSV Asset Management now owns 13,914,752 shares of the specialty retailer’s stock valued at $49,258,000 after acquiring an additional 500,268 shares during the period. 91.48% of the stock is currently owned by institutional investors.
Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the company posted $0.16 earnings per share. The business’s revenue was down 7.6% on a year-over-year basis. analysts expect that Office Depot will post 0.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, March 1st. Office Depot’s dividend payout ratio is presently 16.95%.
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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