Office Depot, Inc. (NASDAQ:ODP) to Issue Quarterly Dividend of $0.03
Office Depot, Inc. (NASDAQ:ODP) declared a quarterly dividend on Wednesday, August 9th, RTT News reports. Shareholders of record on Friday, August 25th will be given a dividend of 0.025 per share by the specialty retailer on Friday, September 15th. This represents a $0.10 dividend on an annualized basis and a yield of 1.64%.
Office Depot (NASDAQ:ODP) traded down 23.73% on Wednesday, reaching $4.66. 7,947,121 shares of the company’s stock were exchanged. Office Depot has a 52 week low of $3.01 and a 52 week high of $6.15. The stock’s 50 day moving average is $5.72 and its 200 day moving average is $5.02. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 4.21 and a beta of 2.98.
Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.44 billion. Office Depot had a return on equity of 13.39% and a net margin of 3.93%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities analysts anticipate that Office Depot will post $0.53 earnings per share for the current year.
In related news, insider Michael R. Allison sold 66,217 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $5.08, for a total value of $336,382.36. Following the sale, the insider now directly owns 763,691 shares in the company, valued at $3,879,550.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.43% of the company’s stock.
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Several brokerages recently commented on ODP. BidaskClub cut Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research cut Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Loop Capital reiterated a “hold” rating and issued a $5.00 target price on shares of Office Depot in a report on Wednesday, July 12th. Telsey Advisory Group upped their target price on Office Depot from $4.40 to $5.25 and gave the company a “market perform” rating in a report on Wednesday, May 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $5.00 target price (up from $4.50) on shares of Office Depot in a report on Wednesday, May 10th. Eight equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $5.12.
Office Depot Company Profile
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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