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Goldman Sachs initiated coverage on shares of Staples (NASDAQ:SPLS) in a research note issued on Tuesday. The firm set an “underweight” rating and a $11.00 price target on the stock. Goldman Sachs’ price objective indicates a potential downside of 2.05% from the company’s current price.

Shares of Staples (NASDAQ:SPLS) traded down 0.80% during mid-day trading on Tuesday, hitting $11.14. 1,762,979 shares of the company’s stock traded hands. Staples has a 52-week low of $10.86 and a 52-week high of $17.30. The stock has a 50-day moving average of $11.8 and a 200-day moving average of $12.94. The company has a market cap of $7.203 billion and a P/E ratio of 13.55.

Staples (NASDAQ:SPLS) last posted its earnings results on Tuesday, May 20th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.03. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter last year, the company posted $0.26 earnings per share. Staples’s revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that Staples will post $0.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 17th. Investors of record on Friday, June 27th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Wednesday, June 25th.

In other Staples news, Director Rowland Moriarty sold 100,000 shares of Staples stock on the open market in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $11.14, for a total transaction of $1,114,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

A number of other analysts have also recently weighed in on SPLS. Analysts at Morgan Stanley initiated coverage on shares of Staples in a research note on Tuesday. They set an “underweight” rating and a $11.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Staples in a research note on Friday, June 6th. They now have a $12.00 price target on the stock. Finally, analysts at Citigroup Inc. downgraded shares of Staples from a “neutral” rating to a “sell” rating in a research note on Tuesday, May 27th. They now have a $11.50 price target on the stock, up previously from $11.00. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $12.73.

Staples, Inc (NASDAQ:SPLS) is an office products company.

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