Office Depot, Inc. (ODP) Scheduled to Post Earnings on Tuesday
Office Depot, Inc. (NASDAQ:ODP) will be releasing its earnings data before the market opens on Tuesday, October 31st. Analysts expect Office Depot to post earnings of $0.17 per share for the quarter.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, analysts expect Office Depot to post $0.44 EPS for the current fiscal year and $0.47 EPS for the next fiscal year.
Shares of Office Depot, Inc. (NASDAQ ODP) traded up 0.402% on Tuesday, hitting $3.745. The stock had a trading volume of 480,651 shares. The company’s 50 day moving average price is $4.17 and its 200-day moving average price is $4.91. Office Depot, Inc. has a 12 month low of $3.01 and a 12 month high of $6.26. The company has a market cap of $1.94 billion, a P/E ratio of 4.851 and a beta of 2.89.
Several research analysts recently weighed in on ODP shares. Bank of America Corporation restated a “buy” rating and set a $6.00 target price on shares of Office Depot in a research note on Tuesday, September 5th. ValuEngine downgraded Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank AG restated a “hold” rating and set a $5.00 target price (down from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. BidaskClub downgraded Office Depot from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Loop Capital restated a “hold” rating and set a $5.00 target price on shares of Office Depot in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.08.
In other Office Depot news, insider Michael R. Allison sold 360,000 shares of Office Depot stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $3.83, for a total transaction of $1,378,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.43% of the company’s stock.
About Office Depot
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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