Zacks: Brokerages Anticipate Staples, Inc. (NASDAQ:SPLS) Will Post Earnings of $0.12 Per Share
Equities analysts predict that Staples, Inc. (NASDAQ:SPLS) will post earnings of $0.12 per share for the current quarter, according to Zacks. Two analysts have made estimates for Staples’ earnings. The highest EPS estimate is $0.13 and the lowest is $0.12. Staples also reported earnings of $0.12 per share in the same quarter last year. The business is expected to announce its next quarterly earnings report on Wednesday, August 16th.
On average, analysts expect that Staples will report full year earnings of $0.89 per share for the current financial year, with EPS estimates ranging from $0.87 to $0.90. For the next fiscal year, analysts anticipate that the business will post earnings of $0.85 per share, with EPS estimates ranging from $0.82 to $0.88. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Staples.
Staples (NASDAQ:SPLS) last posted its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue was down 4.9% compared to the same quarter last year.
Several research analysts have issued reports on SPLS shares. Zacks Investment Research cut Staples from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. Loop Capital reissued a “hold” rating and issued a $5.00 target price on shares of Staples in a research report on Friday, May 19th. Deutsche Bank AG set a $8.00 target price on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Finally, Telsey Advisory Group raised their target price on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $9.18.
Shares of Staples (NASDAQ:SPLS) opened at 10.19 on Friday. Staples has a 1-year low of $7.24 and a 1-year high of $10.25. The stock has a 50 day moving average of $9.86 and a 200 day moving average of $9.34. The company’s market cap is $6.66 billion.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Friday, June 23rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.71%. Staples’s payout ratio is currently -13.30%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. DnB Asset Management AS boosted its position in Staples by 32.2% in the first quarter. DnB Asset Management AS now owns 48,849 shares of the specialty retailer’s stock worth $428,000 after buying an additional 11,900 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Staples during the first quarter worth $243,000. Atria Investments LLC boosted its position in Staples by 56.5% in the first quarter. Atria Investments LLC now owns 265,220 shares of the specialty retailer’s stock worth $2,326,000 after buying an additional 95,778 shares during the last quarter. Visionary Asset Management Inc. boosted its position in Staples by 7.6% in the first quarter. Visionary Asset Management Inc. now owns 365,463 shares of the specialty retailer’s stock worth $3,205,000 after buying an additional 25,680 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Staples by 10.7% in the first quarter. Bank of Montreal Can now owns 2,059,504 shares of the specialty retailer’s stock worth $18,062,000 after buying an additional 198,666 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Staples Company Profile
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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