Office Depot (NASDAQ:ODP) Stock Price Down 5.5%

Office Depot Inc (NASDAQ:ODP) dropped 5.5% during mid-day trading on Friday . The company traded as low as $2.07 and last traded at $2.25, approximately 8,313,200 shares changed hands during trading. An increase of 39% from the average daily volume of 5,991,624 shares. The stock had previously closed at $2.38.

ODP has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “strong-buy” rating and set a $2.00 price objective for the company in a report on Friday, August 9th. ValuEngine upgraded shares of Office Depot from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Bank of America decreased their price objective on shares of Office Depot from $2.00 to $1.20 and set an “underperform” rating for the company in a report on Tuesday, August 20th. Finally, BidaskClub upgraded shares of Office Depot from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th.

The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 0.56 and a beta of 2.55. The stock’s fifty day moving average is $2.08 and its 200-day moving average is $1.90. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.83.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Office Depot had a net margin of 0.28% and a return on equity of 10.05%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, equities research analysts predict that Office Depot Inc will post 0.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, November 21st. Office Depot’s dividend payout ratio is currently 28.57%.

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Office Depot by 2,249.1% in the third quarter. SG Americas Securities LLC now owns 524,234 shares of the specialty retailer’s stock valued at $920,000 after buying an additional 501,918 shares during the period. First Trust Advisors LP boosted its holdings in shares of Office Depot by 76.4% in the third quarter. First Trust Advisors LP now owns 1,204,542 shares of the specialty retailer’s stock valued at $2,114,000 after buying an additional 521,861 shares during the period. Creative Planning boosted its holdings in shares of Office Depot by 92.0% in the third quarter. Creative Planning now owns 337,391 shares of the specialty retailer’s stock valued at $592,000 after buying an additional 161,625 shares during the period. Mackay Shields LLC boosted its holdings in shares of Office Depot by 8.3% in the third quarter. Mackay Shields LLC now owns 937,443 shares of the specialty retailer’s stock valued at $1,645,000 after buying an additional 72,200 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Office Depot by 35.9% in the third quarter. Russell Investments Group Ltd. now owns 283,928 shares of the specialty retailer’s stock valued at $484,000 after buying an additional 74,968 shares during the period. Institutional investors own 91.66% of the company’s stock.

Office Depot Company Profile (NASDAQ:ODP)

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.

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