Office Depot Receives Consensus Recommendation of “Hold” from Brokerages (NYSE:ODP)
Shares of Office Depot (NYSE:ODP) have received a consensus rating of “Hold” from the fourteen brokerages that are presently covering the stock, AmericanBankingNews.com reports. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.20.
A number of research firms have recently commented on ODP. Analysts at Zacks downgraded shares of Office Depot from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 14th. They now have a $5.25 price target on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Office Depot in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $6.35 price target on the stock.
Office Depot (NYSE:ODP) traded down 1.34% during mid-day trading on Wednesday, hitting $5.16. The stock had a trading volume of 848,702 shares. Office Depot has a one year low of $3.84 and a one year high of $5.85. The stock has a 50-day moving average of $5.18 and a 200-day moving average of $4.91. The company’s market cap is $2.774 billion.
Office Depot (NYSE:ODP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was up 58.8% on a year-over-year basis. Analysts expect that Office Depot will post $0.17 EPS for the current fiscal year.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
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