Zacks: Analysts Anticipate Office Depot Inc (ODP) to Announce $0.12 Earnings Per Share

Analysts expect Office Depot Inc (NASDAQ:ODP) to report $0.12 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Office Depot’s earnings, with the highest EPS estimate coming in at $0.13 and the lowest estimate coming in at $0.11. Office Depot posted earnings of $0.14 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 8th.

On average, analysts expect that Office Depot will report full-year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.32 to $0.34. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.37 per share, with EPS estimates ranging from $0.33 to $0.40. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Office Depot.

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

A number of research firms have recently commented on ODP. Zacks Investment Research downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub upgraded Office Depot from a “hold” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Finally, Bank of America restated a “buy” rating and set a $4.00 price objective on shares of Office Depot in a report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Office Depot currently has a consensus rating of “Hold” and an average price target of $3.75.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zeke Capital Advisors LLC acquired a new stake in Office Depot in the 2nd quarter valued at $106,000. Virtu Financial LLC acquired a new stake in Office Depot in the 2nd quarter valued at $121,000. Nisa Investment Advisors LLC increased its holdings in Office Depot by 74.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 22,300 shares in the last quarter. Greenwich Wealth Management LLC increased its holdings in Office Depot by 233.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 54,027 shares of the specialty retailer’s stock valued at $138,000 after purchasing an additional 37,845 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Office Depot by 281.8% in the 2nd quarter. CIBC Asset Management Inc now owns 65,875 shares of the specialty retailer’s stock valued at $168,000 after purchasing an additional 48,620 shares in the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.

Shares of ODP stock traded down $0.01 on Friday, reaching $2.78. 186,635 shares of the stock were exchanged, compared to its average volume of 5,852,513. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 6.20, a PEG ratio of 0.54 and a beta of 2.70. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. Office Depot has a 1-year low of $2.00 and a 1-year high of $3.85.

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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