Staples, Inc. (NASDAQ:SPLS) Expected to Announce Quarterly Sales of $3.87 Billion
Brokerages forecast that Staples, Inc. (NASDAQ:SPLS) will report sales of $3.87 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Staples’ earnings. The lowest sales estimate is $3.83 billion and the highest is $3.92 billion. Staples posted sales of $4.75 billion in the same quarter last year, which suggests a negative year over year growth rate of 18.5%. The firm is expected to report its next quarterly earnings results on Wednesday, August 16th.
On average, analysts expect that Staples will report full year sales of $3.87 billion for the current year, with estimates ranging from $16.72 billion to $17.43 billion. For the next fiscal year, analysts forecast that the business will report sales of $16.57 billion per share, with estimates ranging from $15.85 billion to $17.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Staples.
Staples (NASDAQ:SPLS) last posted its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the previous year, the firm earned $0.17 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year.
SPLS has been the topic of several research analyst reports. Citigroup Inc. raised Staples from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, April 5th. Zacks Investment Research lowered Staples from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Deutsche Bank AG set a $8.00 price objective on Staples and gave the company a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $9.00 price objective on shares of Staples in a report on Thursday, April 6th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.18.
Staples (NASDAQ:SPLS) traded up 0.10% on Wednesday, reaching $10.11. The company had a trading volume of 7,477,525 shares. Staples has a 1-year low of $7.24 and a 1-year high of $10.25. The stock’s 50 day moving average is $9.47 and its 200-day moving average is $9.26. The stock’s market capitalization is $6.60 billion.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.48 dividend on an annualized basis and a yield of 4.75%. Staples’s payout ratio is -13.30%.
A number of institutional investors have recently made changes to their positions in the company. Atria Investments LLC increased its position in shares of Staples by 56.5% in the first quarter. Atria Investments LLC now owns 265,220 shares of the specialty retailer’s stock worth $2,326,000 after buying an additional 95,778 shares during the last quarter. Visionary Asset Management Inc. increased its stake in Staples by 7.6% in the first quarter. Visionary Asset Management Inc. now owns 365,463 shares of the specialty retailer’s stock worth $3,205,000 after buying an additional 25,680 shares in the last quarter. Bank of Montreal Can increased its stake in Staples by 10.7% in the first quarter. Bank of Montreal Can now owns 2,059,504 shares of the specialty retailer’s stock worth $18,062,000 after buying an additional 198,666 shares in the last quarter. E&G Advisors LP increased its stake in Staples by 60.6% in the first quarter. E&G Advisors LP now owns 53,000 shares of the specialty retailer’s stock worth $465,000 after buying an additional 20,000 shares in the last quarter. Finally, Country Club Trust Company n.a. increased its stake in Staples by 5.4% in the first quarter. Country Club Trust Company n.a. now owns 857,780 shares of the specialty retailer’s stock worth $7,523,000 after buying an additional 44,187 shares in the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.
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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