Office Depot Inc Plans Quarterly Dividend of $0.03 (NASDAQ:ODP)

Office Depot Inc (NASDAQ:ODP) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.025 per share by the specialty retailer on Friday, December 13th. This represents a $0.10 dividend on an annualized basis and a yield of 3.95%.

Shares of Office Depot stock opened at $2.53 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 0.72. The business’s 50 day simple moving average is $1.85 and its two-hundred day simple moving average is $1.90. The stock has a market capitalization of $1.19 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 0.54 and a beta of 2.55. Office Depot has a one year low of $1.23 and a one year high of $3.82.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Office Depot had a return on equity of 9.35% and a net margin of 0.27%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. Sell-side analysts expect that Office Depot will post 0.37 earnings per share for the current fiscal year.

A number of equities analysts have commented on the company. Zacks Investment Research raised Office Depot from a “hold” rating to a “strong-buy” rating and set a $2.00 price target on the stock in a research note on Friday, August 9th. BidaskClub raised Office Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. ValuEngine raised Office Depot from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Bank of America cut their price objective on Office Depot from $2.00 to $1.20 and set an “underperform” rating on the stock in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $2.40.

Office Depot Company Profile

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

Featured Story: What are no-load funds?

Dividend History for Office Depot (NASDAQ:ODP)

Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.