Office Depot, Inc. (ODP) Set to Announce Earnings on Thursday
Office Depot, Inc. (NASDAQ:ODP) will be posting its quarterly earnings results before the market opens on Thursday, November 9th. Analysts expect Office Depot to post earnings of $0.14 per share for the quarter.
Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $2.36 billion during 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 quarter in the prior year, the company posted $0.06 EPS. 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.
Several brokerages have commented on ODP. Zacks Investment Research downgraded Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Bank of America Corporation reaffirmed a “buy” rating and set a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Loop Capital reaffirmed a “hold” rating and set a $5.00 target price on shares of Office Depot in a report on Wednesday, July 12th. BidaskClub downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $5.00 target price (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.08.
In other 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 value of $1,378,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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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