OfficeMax Upgraded by TheStreet to “Buy” (OMX)
OfficeMax (NYSE:OMX) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Analyst Ratings.Net reports.
The analysts wrote, “OfficeMax (OMX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
Shares of OfficeMax (NYSE:OMX) opened at 15.50 on Wednesday. OfficeMax has a one year low of $7.42 and a one year high of $15.75. The stock has a 50-day moving average of $13.24 and a 200-day moving average of $11.85. The company has a market cap of $1.351 billion and a price-to-earnings ratio of 2.97.
OfficeMax (NYSE:OMX) last released its earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, analysts predict that OfficeMax will post $0.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, October 30th.
Several other analysts have also recently commented on the stock. Analysts at KeyCorp raised their price target on shares of OfficeMax from $14.80 to $17.50 in a research note to investors on Tuesday, October 15th. They now have a “buy” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of OfficeMax from $12.00 to $14.00 in a research note to investors on Friday, October 11th. They now have a “neutral” rating on the stock. Finally, analysts at Janney Montgomery Scott upgraded shares of OfficeMax from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, October 10th. They now have a $21.50 price target on the stock, up previously from $13.00. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $14.05.
OfficeMax Incorporated (NYSE:OMX), is engaged in both business-to-business and retail office products distribution.
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