Essendant (ESND) Hits New 12-Month Low at $8.74
Essendant Inc. (NASDAQ:ESND) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.74 and last traded at $9.03, with a volume of 242700 shares trading hands. The stock had previously closed at $8.97.
Several equities research analysts recently weighed in on the company. ValuEngine lowered Essendant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research raised Essendant from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, BidaskClub lowered Essendant from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $16.50.
The firm has a market cap of $339.64, a price-to-earnings ratio of 16.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02.
Essendant (NASDAQ:ESND) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.30). Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the business posted $0.57 EPS. The company’s revenue was down 7.0% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Thursday, December 14th. Essendant’s dividend payout ratio (DPR) is currently -7.67%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in Essendant by 77.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,344 shares of the company’s stock worth $108,000 after acquiring an additional 3,204 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in Essendant in the 3rd quarter worth about $154,000. Trexquant Investment LP bought a new position in Essendant in the 3rd quarter worth about $170,000. Cubist Systematic Strategies LLC bought a new position in Essendant in the 2nd quarter worth about $179,000. Finally, Nisa Investment Advisors LLC boosted its stake in Essendant by 5.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the company’s stock worth $191,000 after purchasing an additional 700 shares during the period. 96.54% of the stock is owned by institutional investors.
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Essendant Company Profile
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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