Staples, Inc. (SPLS) PT Raised to $10.25 at Telsey Advisory Group
Staples, Inc. (NASDAQ:SPLS) had its price objective boosted by analysts at Telsey Advisory Group from $9.00 to $10.25 in a research report issued on Thursday, MarketBeat.com reports. The firm presently has a “market perform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 1.79% from the stock’s current price.
A number of other brokerages have also recently commented on SPLS. Loop Capital reaffirmed a “hold” rating and set a $10.00 price target on shares of Staples in a research report on Thursday, April 6th. Deutsche Bank AG set a $8.00 price target on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. Citigroup Inc. raised Staples from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, April 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price target on shares of Staples in a research report on Saturday, March 11th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.18.
Staples (NASDAQ:SPLS) traded down 0.10% during midday trading on Thursday, reaching $10.07. The company’s stock had a trading volume of 45,822,875 shares. The firm has a 50 day moving average price of $9.09 and a 200-day moving average price of $9.21. The company’s market cap is $6.58 billion. Staples has a 12-month low of $7.24 and a 12-month high of $10.25. Staples also was the recipient of unusually large options trading on Friday. Investors acquired 20,435 put options on the stock. This represents an increase of 1,522% compared to the average volume of 1,260 put options.
Staples (NASDAQ:SPLS) last announced its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the business earned $0.17 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Staples will post $0.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Friday, June 23rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.48 annualized dividend and a dividend yield of 4.77%. Staples’s dividend payout ratio (DPR) is presently -13.30%.
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Several institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. boosted its position in shares of Staples by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 104,833 shares of the specialty retailer’s stock valued at $919,000 after buying an additional 725 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Staples by 265.6% in the first quarter. Nuveen Asset Management LLC now owns 1,191,715 shares of the specialty retailer’s stock valued at $10,451,000 after buying an additional 865,751 shares during the period. Aviance Capital Management LLC bought a new position in shares of Staples during the first quarter valued at about $736,000. Piedmont Investment Advisors LLC boosted its position in shares of Staples by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 169,876 shares of the specialty retailer’s stock valued at $1,490,000 after buying an additional 2,998 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Staples by 25.6% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 108,397 shares of the specialty retailer’s stock valued at $951,000 after buying an additional 22,100 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.
Staples Company Profile
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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