Analysts Advise About Office Depot, Inc. (NASDAQ:ODP)
- Author: Delia Davidson Mar 03, 2017,
Mar 03, 2017, 0:49
Office Depot, Inc. (NASDAQ:ODP) has a market capitalization of 2.2 Billion. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Likewise, the negative performance for the quarter was recorded as -9.18% and for the year was -11.99%, while the YTD performance remained at -1.55%.
Should investors bet on Office Depot, Inc. following this recent trend? . These shares are worth $39,661 and were traded at $4.73 each. The scale runs from 1 to 5 with 1 recommending Strong Buy and 5 recommending a Strong Sell. The stock, after opening at $4.34, closed at $4.45 by scoring 2.77%. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of -5.78%.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.25%. Office Depot's dividend payout ratio is now 17.54%.
Average EPS forecast for the current year is $0.41 according to 14 analysts making projections for Office Depot Inc (NASDAQ:ODP). The stock grabbed 54 new institutional investments totaling 25,164,108 shares while 43 institutional investors sold out their entire positions totaling 25,862,916 shares. Following the completion of the transaction, the executive vice president now owns 234,782 shares in the company, valued at approximately $1,110,518.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
The stock is now showing YTD performance of 6.86 Percent.
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Loop Capital analysts provided their view on Office Depot, Inc.
For the quarter ending December 31, Office Depot booked sales of $2.73 billion, down 2% year over year, but slightly ahead of the expected $2.72 billion.
The company's quick ratio for most recent quarter is 0.90. The stock's closing price was $3.48 with the gain of 5.78% in its share price on the day following the earning announcement. Alliancebernstein L.P. increased its stake in Office Depot by 23.8% in the fourth quarter. The company's institutional ownership is monitored at 92.2 percent. LS Investment Advisors LLC now owns 35,548 shares of the company's stock valued at $127,000 after buying an additional 4,843 shares during the last quarter. Bank of New York Mellon Corp now owns 27,967,852 shares of the company's stock valued at $99,846,000 after buying an additional 15,695,817 shares during the period.
All trademarks, service marks and trade names of Office Depot, Inc. and OfficeMax Incorporated used herein are trademarks or registered trademarks of Office Depot, Inc. and OfficeMax Incorporated, respectively.
The company had annual sales of approximately $11 billion, employed approximately 38,000 associates, and served consumers and businesses in North America and overseas with approximately 1,400 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization - with a global network of wholly owned operations, franchisees, licensees and alliance partners.