Brokerages Anticipate Office Depot, Inc. (ODP) Will Announce Quarterly Sales of $2.54 Billion
Brokerages expect that Office Depot, Inc. (NASDAQ:ODP) will post $2.54 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Office Depot’s earnings. The highest sales estimate is $2.63 billion and the lowest is $2.42 billion. Office Depot posted sales of $2.73 billion during the same quarter last year, which suggests a negative year over year growth rate of 7%. The company is expected to issue its next earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Office Depot will report full-year sales of $2.54 billion for the current fiscal year, with estimates ranging from $10.08 billion to $10.29 billion. For the next year, analysts anticipate that the firm will report sales of $10.46 billion per share, with estimates ranging from $9.72 billion to $10.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Office Depot.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The company’s quarterly revenue was down 7.6% on a year-over-year basis.
In related news, insider Michael R. Allison sold 360,000 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.43% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in ODP. AJO LP increased its stake in shares of Office Depot by 5,759.7% in the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock valued at $65,166,000 after purchasing an additional 11,357,003 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Office Depot by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock valued at $191,925,000 after purchasing an additional 5,677,685 shares during the period. LSV Asset Management increased its stake in shares of Office Depot by 125.9% in the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock valued at $44,269,000 after purchasing an additional 4,374,431 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Office Depot by 16.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,237,692 shares of the specialty retailer’s stock valued at $137,279,000 after purchasing an additional 4,305,079 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Office Depot by 72.2% in the second quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer’s stock valued at $56,396,000 after purchasing an additional 4,192,720 shares during the period. Institutional investors own 93.29% of the company’s stock.
Shares of Office Depot (NASDAQ:ODP) traded down $0.04 on Monday, reaching $3.27. The company’s stock had a trading volume of 3,274,300 shares, compared to its average volume of 5,793,061. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.93. The firm has a market cap of $1,750.00, a P/E ratio of 6.96, a PEG ratio of 1.02 and a beta of 2.87. Office Depot has a 52 week low of $2.97 and a 52 week high of $6.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.10 annualized dividend and a dividend yield of 3.06%. Office Depot’s payout ratio is 21.28%.
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Office Depot Company Profile
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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