Wall Street brokerages predict that Office Depot Inc (NASDAQ:ODP) will post $0.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Office Depot’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.05. Office Depot also reported earnings of $0.05 per share in the same quarter last year. The company is expected to announce its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Office Depot will report full year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.32 to $0.37. For the next year, analysts expect that the company will report earnings of $0.38 per share, with EPS estimates ranging from $0.32 to $0.43. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Office Depot.

Office Depot (NASDAQ:ODP) last released its earnings results on Wednesday, May 8th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.76 billion. Office Depot had a net margin of 0.64% and a return on equity of 8.95%. Office Depot’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share.

Several research firms have weighed in on ODP. Bank of America reaffirmed a “buy” rating and issued a $4.50 price target on shares of Office Depot in a research note on Thursday, February 28th. ValuEngine downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. BidaskClub raised shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, Zacks Investment Research downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Office Depot presently has a consensus rating of “Sell” and an average price target of $3.08.

ODP opened at $1.97 on Friday. Office Depot has a 1-year low of $1.89 and a 1-year high of $3.82. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 0.47 and a beta of 2.44.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, May 23rd. Office Depot’s dividend payout ratio (DPR) is currently 28.57%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB boosted its stake in Office Depot by 3.3% in the first quarter. Nordea Investment Management AB now owns 790,400 shares of the specialty retailer’s stock valued at $2,869,000 after acquiring an additional 25,400 shares during the last quarter. Cleararc Capital Inc. purchased a new position in Office Depot in the first quarter valued at about $50,000. BlueMountain Capital Management LLC purchased a new position in Office Depot in the first quarter valued at about $130,000. Zebra Capital Management LLC boosted its stake in Office Depot by 5.4% in the first quarter. Zebra Capital Management LLC now owns 351,816 shares of the specialty retailer’s stock valued at $1,277,000 after acquiring an additional 18,174 shares during the last quarter. Finally, Man Group plc purchased a new position in Office Depot in the first quarter valued at about $114,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

About Office Depot

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

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