Office Depot (ODP) Sets New 52-Week Low at $2.26

Office Depot Inc (NASDAQ:ODP) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.26 and last traded at $2.26, with a volume of 4489516 shares traded. The stock had previously closed at $2.31.

Several research firms recently commented on ODP. ValuEngine lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. BidaskClub lowered shares of Office Depot from a “sell” rating to a “strong sell” rating in a research note on Friday, March 2nd. Jefferies Group reiterated a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Office Depot has an average rating of “Hold” and an average price target of $5.08.

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The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1,308.59, a P/E ratio of 6.69, a PEG ratio of 0.45 and a beta of 2.55.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Office Depot had a net margin of 1.76% and a return on equity of 11.74%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business posted $0.11 EPS. Office Depot’s revenue for the quarter was down 5.3% compared to the same quarter last year. sell-side analysts expect that Office Depot Inc will post 0.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.10 dividend on an annualized basis and a yield of 4.40%. Office Depot’s payout ratio is 29.41%.

Institutional investors have recently modified their holdings of the business. California Public Employees Retirement System increased its stake in Office Depot by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 2,240,028 shares of the specialty retailer’s stock valued at $10,170,000 after purchasing an additional 44,107 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Office Depot during the 3rd quarter valued at approximately $400,000. Creative Planning increased its stake in Office Depot by 55.4% during the 4th quarter. Creative Planning now owns 107,931 shares of the specialty retailer’s stock valued at $382,000 after purchasing an additional 38,499 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Office Depot during the 3rd quarter valued at approximately $344,000. Finally, Macquarie Group Ltd. acquired a new position in Office Depot during the 3rd quarter valued at approximately $885,000. Institutional investors and hedge funds own 92.95% of the company’s stock.

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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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