Staples, Inc. (NASDAQ:SPLS) Receives Average Recommendation of “Hold” from Analysts
Staples, Inc. (NASDAQ:SPLS) has been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.04.
SPLS has been the subject of several research reports. Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Staples in a research report on Friday, May 19th. Deutsche Bank AG set a $8.00 price target on shares of Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. Finally, Telsey Advisory Group increased their price target on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th.
Institutional investors have recently modified their holdings of the company. Stephens Inc. AR raised its position in shares of Staples by 6.8% in the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock worth $102,000 after buying an additional 744 shares in the last quarter. HighTower Advisors LLC purchased a new position in Staples during the first quarter worth approximately $102,000. Ballentine Partners LLC raised its position in Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after buying an additional 50 shares during the period. Cutter & CO Brokerage Inc. raised its position in Staples by 13.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock worth $108,000 after buying an additional 1,500 shares during the period. Finally, Concert Wealth Management Inc. raised its position in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock worth $109,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.
Shares of Staples (NASDAQ SPLS) traded down 0.29% during trading on Friday, reaching $10.14. 19,433,781 shares of the company’s stock were exchanged. The stock’s market cap is $6.62 billion. Staples has a 52-week low of $7.24 and a 52-week high of $10.25. The stock’s 50 day moving average price is $10.04 and its 200-day moving average price is $9.38.
Staples (NASDAQ:SPLS) last posted its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that Staples will post $0.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 21st. This represents a $0.48 dividend on an annualized basis and a yield of 4.73%. Staples’s dividend payout ratio is presently -13.30%.
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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