Staples Reaches New 1-Year Low at $10.70 (SPLS)
Staples (NASDAQ:SPLS)’s share price hit a new 52-week low during mid-day trading on Thursday , Analyst Ratings Network reports. The stock traded as low as $10.70 and last traded at $10.78, with a volume of 5,458,320 shares changing hands. The stock had previously closed at $10.93.
A number of analysts have recently weighed in on SPLS shares. Analysts at Goldman Sachs 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 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. Finally, 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. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.73.
The stock’s 50-day moving average is $11.72 and its 200-day moving average is $12.87. The company has a market cap of $7.061 billion and a P/E ratio of 13.18. Staples also saw a significant decrease in short interest in the month of June. As of June 13th, there was short interest totalling 88,990,199 shares, a decrease of 6.2% from the May 30th total of 94,886,422 shares. Based on an average trading volume of 14,092,031 shares, the short-interest ratio is presently 6.3 days. Approximately 13.9% of the shares of the company are short sold.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data 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. Analysts expect that Staples will post $0.98 EPS 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 4.39%. The ex-dividend date is Wednesday, June 25th.
Staples, Inc (NASDAQ:SPLS) is an office products company.
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