Essendant (ESND) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Essendant (NASDAQ:ESND) from a sell rating to a hold rating in a report published on Thursday morning.

Separately, TheStreet upgraded shares of Essendant from a d+ rating to a c rating in a report on Friday, July 27th.

NASDAQ ESND traded up $0.02 on Thursday, reaching $12.71. 7,507 shares of the company’s stock traded hands, compared to its average volume of 186,591. Essendant has a 12 month low of $7.20 and a 12 month high of $17.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.96 and a quick ratio of 0.98. The stock has a market capitalization of $478.43 million, a P/E ratio of 1,271.00 and a beta of 1.09.

Essendant (NASDAQ:ESND) last issued its quarterly earnings results on Thursday, October 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Essendant had a negative net margin of 1.15% and a positive return on equity of 0.11%. The business had revenue of $1.29 billion for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, December 13th.

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its position in Essendant by 164.1% in the first quarter. Millennium Management LLC now owns 422,377 shares of the company’s stock worth $3,295,000 after buying an additional 262,468 shares during the last quarter. Principal Financial Group Inc. grew its position in Essendant by 2.7% in the first quarter. Principal Financial Group Inc. now owns 289,011 shares of the company’s stock worth $2,254,000 after buying an additional 7,560 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Essendant in the second quarter worth approximately $390,000. Hartford Investment Management Co. acquired a new position in Essendant in the second quarter worth approximately $566,000. Finally, Acadian Asset Management LLC acquired a new position in Essendant in the second quarter worth approximately $2,110,000. 81.88% of the stock is owned by institutional investors.

About Essendant

Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.

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