Staples Inc. (SPLS) PT Set at $9.00 by Jefferies Group
Staples Inc. (NASDAQ:SPLS) received a $9.00 target price from Jefferies Group in a report released on Tuesday. The brokerage presently has a a “hold” rating on the stock. Jefferies Group’s price objective points to a potential upside of 9.22% from the stock’s previous close.
A number of other analysts have also commented on SPLS. Vetr raised Staples from a “buy” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a research note on Monday, June 27th. Argus reissued a “hold” rating on shares of Staples in a research note on Friday, July 15th. Deutsche Bank AG cut their price target on Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, August 18th. TheStreet lowered Staples to a “sell” rating in a research note on Friday, August 19th. Finally, Morgan Stanley set a $10.00 price target on Staples and gave the company a “hold” rating in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.29.
Shares of Staples (NASDAQ:SPLS) opened at 8.24 on Tuesday. Staples has a one year low of $8.00 and a one year high of $13.50. The firm has a 50-day moving average of $8.52 and a 200 day moving average of $9.23. The company’s market cap is $5.36 billion.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Staples will post $0.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 23rd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.48 annualized dividend and a dividend yield of 5.83%. Staples’s dividend payout ratio is -70.59%.
Several large investors have recently added to or reduced their stakes in SPLS. Mackenzie Financial Corp purchased a new stake in Staples during the second quarter valued at approximately $100,000. Concert Wealth Management Inc. purchased a new stake in Staples during the second quarter valued at approximately $103,000. Veritable L.P. purchased a new stake in Staples during the second quarter valued at approximately $103,000. Lapides Asset Management LLC purchased a new stake in Staples during the second quarter valued at approximately $106,000. Finally, Heartland Advisors Inc. purchased a new stake in Staples during the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 86.59% of the company’s stock.
Staples Company Profile
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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