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Staples, Inc. (NASDAQ:SPLS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.34-0.39 for the period, compared to the Thomson Reuters consensus estimate of $0.38, American Banking News reports. The company issued revenue guidance of decrease YoY from $5.3 billion, compared to the consensus revenue estimate of $5.91 billion.

Several analysts have recently commented on the stock. Analysts at Wolfe Research downgraded shares of Staples to an underperform rating in a research note on Wednesday, July 23rd. On a related note, analysts at Goldman Sachs initiated coverage on shares of Staples in a research note on Tuesday, June 24th. They set an underweight rating and a $11.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Staples in a research note on Tuesday, June 24th. They set an underweight rating and a $11.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $12.77.

Shares of Staples, Inc. (NASDAQ:SPLS) opened at 11.62 on Wednesday. Staples, Inc. has a 52 week low of $10.70 and a 52 week high of $17.01. The stock’s 50-day moving average is $11.23 and its 200-day moving average is $11.87. The company has a market cap of $7.514 billion and a price-to-earnings ratio of 13.91. Staples also was the recipient of unusually large options trading on Tuesday. Traders purchased 9,910 call options on the stock. This represents an increase of approximately 407% compared to the average volume of 1,954 call options.

Staples (NASDAQ:SPLS) last released its earnings data on Wednesday, August 20th. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.01. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company posted $0.16 earnings per share. Staples’s revenue was down 1.8% compared to the same quarter last year. Analysts expect that Staples, Inc. will post $0.98 EPS for the current fiscal year.

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

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