Staples, Inc. (SPLS) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Staples, Inc. (NASDAQ:SPLS) from a sell rating to a strong sell rating in a research report released on Friday.
Several other equities analysts also recently issued reports on the stock. Citigroup Inc. raised shares of Staples from a neutral rating to a buy rating and set a $12.00 price target for the company in a research note on Wednesday, April 5th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a hold rating in a research note on Thursday, June 22nd. Zacks Investment Research downgraded shares of Staples from a hold rating to a sell rating in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Staples in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a hold rating and set a $9.00 target price on shares of Staples in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $9.18.
Staples (SPLS) opened at 10.15 on Friday. Staples has a 52-week low of $7.24 and a 52-week high of $10.25. The company’s market cap is $6.63 billion. The company has a 50-day moving average of $9.73 and a 200 day moving average of $9.32.
Staples (NASDAQ:SPLS) last issued its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $4.15 billion for 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 company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. Equities research analysts predict that Staples will post $0.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Wednesday, June 21st. Staples’s dividend payout ratio is -13.30%.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after buying an additional 46,465,935 shares during the period. Oldfield Partners LLP acquired a new stake in Staples during the first quarter valued at about $124,653,000. Dimensional Fund Advisors LP raised its stake in Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock valued at $132,163,000 after buying an additional 4,930,604 shares during the period. Prudential Financial Inc. raised its stake in Staples by 124.3% in the first quarter. Prudential Financial Inc. now owns 6,124,831 shares of the specialty retailer’s stock valued at $53,715,000 after buying an additional 3,393,950 shares during the period. Finally, Vanguard Group Inc. raised its stake in Staples by 4.9% in the first quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock valued at $572,485,000 after buying an additional 3,047,800 shares during the period. 91.89% of the stock is currently owned by institutional investors.
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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