Equities analysts predict that Office Depot Inc (NASDAQ:ODP) will post sales of $2.86 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Office Depot’s earnings. The highest sales estimate is $2.89 billion and the lowest is $2.83 billion. Office Depot posted sales of $2.62 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The firm is expected to issue its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Office Depot will report full-year sales of $10.98 billion for the current financial year, with estimates ranging from $10.92 billion to $11.03 billion. For the next year, analysts forecast that the firm will report sales of $10.90 billion per share, with estimates ranging from $10.87 billion to $10.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Office Depot.

Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a net margin of 0.91% and a return on equity of 9.20%. During the same period last year, the business earned $0.06 EPS.

ODP has been the subject of a number of analyst reports. ValuEngine upgraded shares of Office Depot from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 24th. Bank of America restated a “buy” rating and set a $4.00 price objective on shares of Office Depot in a research note on Tuesday, August 7th. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Thursday, August 9th. Finally, BidaskClub upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Monday, May 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.88.

NASDAQ:ODP opened at $3.16 on Tuesday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 0.55 and a beta of 2.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.85. Office Depot has a fifty-two week low of $2.00 and a fifty-two week high of $4.65.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, August 23rd. Office Depot’s payout ratio is presently 22.22%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Office Depot by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,311,717 shares of the specialty retailer’s stock valued at $26,295,000 after acquiring an additional 437,798 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of Office Depot by 73.7% during the 2nd quarter. Mutual Advisors LLC now owns 350,800 shares of the specialty retailer’s stock valued at $895,000 after acquiring an additional 148,800 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Office Depot by 663.7% during the 2nd quarter. Millennium Management LLC now owns 2,370,562 shares of the specialty retailer’s stock valued at $6,045,000 after acquiring an additional 2,060,152 shares during the last quarter. Zebra Capital Management LLC purchased a new stake in shares of Office Depot during the 2nd quarter valued at about $680,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Office Depot by 38.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 103,960 shares of the specialty retailer’s stock valued at $265,000 after acquiring an additional 28,649 shares during the last quarter. 90.59% of the stock is currently owned by hedge funds and other institutional investors.

Office Depot Company Profile

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

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