Analysts expect Office Depot Inc (NASDAQ:ODP) to post $0.08 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Office Depot’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.07. Office Depot also reported earnings of $0.08 per share in the same quarter last year. The company is expected to announce its next quarterly earnings results on Wednesday, February 27th.

On average, analysts expect that Office Depot will report full-year earnings of $0.33 per share for the current year, with EPS estimates ranging from $0.33 to $0.34. For the next fiscal year, analysts anticipate that the business will post earnings of $0.39 per share, with EPS estimates ranging from $0.37 to $0.41. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Office Depot.

Office Depot (NASDAQ:ODP) last posted its earnings results on Wednesday, November 7th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Office Depot had a return on equity of 8.90% and a net margin of 0.59%. Office Depot’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share.

Several analysts have commented on the stock. ValuEngine lowered shares of Office Depot from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BidaskClub lowered shares of Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Deutsche Bank set a $4.00 price objective on shares of Office Depot and gave the stock a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Finally, Bank of America set a $5.00 price objective on shares of Office Depot and gave the stock a “buy” rating in a report on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Office Depot has a consensus rating of “Hold” and an average price target of $4.17.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Office Depot by 15.8% in the second quarter. Bank of America Corp DE now owns 1,170,747 shares of the specialty retailer’s stock worth $2,985,000 after buying an additional 159,630 shares during the period. Towle & Co. lifted its holdings in shares of Office Depot by 2.3% during the third quarter. Towle & Co. now owns 12,343,168 shares of the specialty retailer’s stock valued at $39,622,000 after purchasing an additional 275,590 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Office Depot during the second quarter valued at approximately $2,018,000. Comerica Bank lifted its holdings in shares of Office Depot by 35.8% during the second quarter. Comerica Bank now owns 553,480 shares of the specialty retailer’s stock valued at $1,511,000 after purchasing an additional 145,944 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Office Depot by 114.5% during the second quarter. Arizona State Retirement System now owns 747,000 shares of the specialty retailer’s stock valued at $1,905,000 after purchasing an additional 398,720 shares during the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.

Shares of NASDAQ ODP traded down $0.18 during trading hours on Friday, hitting $2.94. The company’s stock had a trading volume of 4,877,484 shares, compared to its average volume of 5,759,549. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.35 and a quick ratio of 0.89. The stock has a market capitalization of $1.72 billion, a PE ratio of 6.53 and a beta of 2.74. Office Depot has a 12 month low of $2.00 and a 12 month high of $3.66.

Office Depot announced that its Board of Directors has approved a stock buyback program on Tuesday, November 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be issued a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.10 annualized dividend and a yield of 3.40%. Office Depot’s dividend payout ratio (DPR) is presently 22.22%.

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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