Analysts expect Office Depot Inc (NASDAQ:ODP) to announce $0.12 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Office Depot’s earnings, with estimates ranging from $0.11 to $0.13. Office Depot posted earnings of $0.14 per share in the same quarter last year, which suggests a negative year over year growth rate of 14.3%. The company is scheduled to report its next earnings report on Thursday, November 8th.

On average, analysts expect that Office Depot will report full year earnings of $0.33 per share for the current year, with EPS estimates ranging from $0.32 to $0.34. For the next fiscal year, analysts anticipate that the company will report earnings of $0.37 per share, with EPS estimates ranging from $0.33 to $0.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Office Depot.

Office Depot (NASDAQ:ODP) last posted its earnings results on Tuesday, August 7th. The specialty retailer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. During the same period in the previous year, the business earned $0.06 earnings per share.

ODP has been the topic of several analyst reports. Zacks Investment Research cut Office Depot from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised Office Depot from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. ValuEngine cut Office Depot from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Finally, Bank of America reissued a “buy” rating and set a $4.00 price objective on shares of Office Depot in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $3.75.

Shares of NASDAQ:ODP traded down $0.01 during mid-day trading on Friday, reaching $2.82. The stock had a trading volume of 3,178,953 shares, compared to its average volume of 5,869,431. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.78 billion, a P/E ratio of 6.27, a P/E/G ratio of 0.54 and a beta of 2.70. Office Depot has a 1 year low of $2.00 and a 1 year high of $3.93.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, August 23rd. This represents a $0.10 annualized dividend and a yield of 3.55%. Office Depot’s payout ratio is currently 22.22%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Office Depot by 34.0% during the second quarter. BlackRock Inc. now owns 72,728,081 shares of the specialty retailer’s stock valued at $185,458,000 after buying an additional 18,466,409 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Office Depot by 557.0% during the second quarter. SG Americas Securities LLC now owns 10,316,418 shares of the specialty retailer’s stock valued at $26,307,000 after buying an additional 8,746,140 shares during the last quarter. Laurion Capital Management LP grew its stake in shares of Office Depot by 38,083.7% during the second quarter. Laurion Capital Management LP now owns 4,849,336 shares of the specialty retailer’s stock valued at $12,366,000 after buying an additional 4,836,636 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Office Depot by 12.1% during the second quarter. Dimensional Fund Advisors LP now owns 42,881,014 shares of the specialty retailer’s stock valued at $109,349,000 after buying an additional 4,618,163 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Office Depot by 663.7% during the second quarter. Millennium Management LLC now owns 2,370,562 shares of the specialty retailer’s stock valued at $6,045,000 after buying an additional 2,060,152 shares during the last quarter. 90.55% of the stock is currently owned by institutional investors.

About Office Depot

Office Depot, Inc engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom. The Retail segment involves in selling merchandise through chain of office supply stores and offers products and services in the categories of supplies, technology, and furniture and other.

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