Office Depot (ODP) Expected to Announce Earnings of $0.03 Per Share

Equities analysts predict that Office Depot (NASDAQ:ODP) will announce $0.03 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Office Depot’s earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at $0.02. Office Depot reported earnings of $0.06 per share in the same quarter last year, which indicates a negative year over year growth rate of 50%. The firm is expected to report its next earnings results on Wednesday, August 8th.

According to Zacks, analysts expect that Office Depot will report full-year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.30 to $0.51. For the next year, analysts anticipate that the business will report earnings of $0.31 per share, with EPS estimates ranging from $0.25 to $0.35. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Office Depot.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, May 9th. The specialty retailer reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.74 billion. Office Depot had a return on equity of 9.60% and a net margin of 1.01%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share.



Several research firms have commented on ODP. BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Jefferies Group reissued a “hold” rating on shares of Office Depot in a report on Thursday, March 1st. Finally, ValuEngine lowered Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.04.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Office Depot by 1.4% during the first quarter. BlackRock Inc. now owns 54,261,672 shares of the specialty retailer’s stock worth $116,663,000 after purchasing an additional 751,608 shares in the last quarter. Lee Thomas H Partners LP purchased a new stake in shares of Office Depot in the fourth quarter valued at $150,438,000. Dimensional Fund Advisors LP lifted its position in shares of Office Depot by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 38,262,851 shares of the specialty retailer’s stock valued at $82,265,000 after acquiring an additional 783,529 shares in the last quarter. Fairpointe Capital LLC lifted its position in shares of Office Depot by 1.6% in the fourth quarter. Fairpointe Capital LLC now owns 31,121,730 shares of the specialty retailer’s stock valued at $110,171,000 after acquiring an additional 502,524 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Office Depot by 3.7% in the fourth quarter. LSV Asset Management now owns 13,914,752 shares of the specialty retailer’s stock valued at $49,258,000 after acquiring an additional 500,268 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Office Depot traded down $0.01, hitting $2.29, during trading on Friday, according to MarketBeat. 96,295 shares of the stock were exchanged, compared to its average volume of 4,873,880. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 5.07, a price-to-earnings-growth ratio of 0.41 and a beta of 2.67. Office Depot has a 1-year low of $2.25 and a 1-year high of $2.34. The company has a quick ratio of 0.87, a current ratio of 1.39 and a debt-to-equity ratio of 0.78.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be paid a $0.025 dividend. The ex-dividend date is Thursday, May 24th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 4.37%. Office Depot’s dividend payout ratio (DPR) is presently 22.22%.

About Office Depot

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

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