Staples, Inc. (SPLS) Expected to Post Quarterly Sales of $3.83 Billion
Equities analysts forecast that Staples, Inc. (NASDAQ:SPLS) will report sales of $3.83 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Staples’ earnings. The lowest sales estimate is $3.83 billion and the highest is $3.84 billion. Staples reported sales of $4.75 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 19.4%. 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 $3.83 billion for the current fiscal year, with estimates ranging from $16.72 billion to $17.04 billion. For the next financial year, analysts anticipate that the company will post sales of $16.38 billion per share, with estimates ranging from $15.85 billion to $16.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Staples.
Staples (NASDAQ:SPLS) last posted its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.50 billion. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS.
A number of research analysts recently commented on the stock. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research note on Saturday. Telsey Advisory Group raised their price objective on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Finally, Loop Capital reiterated a “hold” rating and set a $5.00 price objective on shares of Staples in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Staples currently has a consensus rating of “Hold” and an average price target of $9.18.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPLS. UBS Asset Management Americas Inc. raised its position in Staples by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,070,639 shares of the specialty retailer’s stock valued at $18,739,000 after buying an additional 10,418 shares during the period. Teachers Advisors LLC raised its position in Staples by 14.2% in the fourth quarter. Teachers Advisors LLC now owns 2,902,522 shares of the specialty retailer’s stock valued at $26,268,000 after buying an additional 361,488 shares during the period. Kentucky Retirement Systems acquired a new position in Staples during the fourth quarter valued at about $427,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Staples during the fourth quarter valued at about $191,000. Finally, Chevy Chase Trust Holdings Inc. raised its position in Staples by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 560,807 shares of the specialty retailer’s stock valued at $4,919,000 after buying an additional 17,202 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.
Shares of Staples (NASDAQ:SPLS) opened at 10.175 on Tuesday. Staples has a 1-year low of $7.24 and a 1-year high of $10.25. The stock’s market capitalization is $6.65 billion. The firm’s 50-day moving average price is $9.76 and its 200 day moving average price is $9.33.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were given a $0.12 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.48 annualized dividend and a yield of 4.72%. Staples’s dividend payout ratio (DPR) is -13.30%.
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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