Staples Inc. (SPLS) Stock Rating Reaffirmed by Jefferies Group
Staples Inc. (NASDAQ:SPLS)‘s stock had its “neutral” rating restated by Jefferies Group in a research report issued to clients and investors on Wednesday.
The analysts wrote, “DRI delivered a better than expected F1Q with inline +1.3% blended SSS and EPS of $0.88, $0.06 above expectations, helped by a $0.04 gain (included in prior guidance) and buybacks. F17 SSS guide maintained at 1%-2%, but EPS raised by $0.07 at the midpoint to $3.92. We believe DRI remains positioned to continue its company-specific momentum in the near-term in a challenging environment where we expect weak C3Q reports overall.””
A number of other brokerages also recently issued reports on SPLS. Argus reissued a “hold” rating on shares of Staples in a report on Friday, July 15th. Deutsche Bank AG decreased their price target on Staples from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, August 18th. Citigroup Inc. reduced their target price on Staples from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. TheStreet downgraded Staples to a “sell” rating in a research note on Friday, August 19th. Finally, Zacks Investment Research downgraded Staples from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.29.
Staples (NASDAQ:SPLS) opened at 8.04 on Wednesday. The stock’s market capitalization is $5.23 billion. The company has a 50 day moving average of $8.50 and a 200-day moving average of $9.22. Staples has a 12-month low of $8.00 and a 12-month high of $13.50.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.12 earnings per share (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 company earned $4.80 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.12 earnings per share. Staples’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Staples will post $0.89 earnings per share for the current year.
The firm also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date is Wednesday, September 21st. Staples’s dividend payout ratio is presently -70.59%.
Institutional investors have recently added to or reduced their stakes in the company. Kleinwort Benson Investors Dublin Ltd acquired a new position in Staples during the second quarter worth $100,162,000. Renaissance Technologies LLC raised its position in Staples by 405.7% in the first quarter. Renaissance Technologies LLC now owns 8,998,779 shares of the company’s stock valued at $99,257,000 after buying an additional 7,219,432 shares during the last quarter. Bank of New York Mellon Corp raised its position in Staples by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 35,891,328 shares of the company’s stock valued at $309,382,000 after buying an additional 6,946,466 shares during the last quarter. Ameriprise Financial Inc. raised its position in Staples by 159.3% in the second quarter. Ameriprise Financial Inc. now owns 3,840,622 shares of the company’s stock valued at $33,107,000 after buying an additional 2,359,654 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Staples by 31.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,174,413 shares of the company’s stock valued at $61,842,000 after buying an additional 1,715,951 shares during the last quarter. Institutional investors and hedge funds 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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