Office Depot is soaring after beating on earnings
- Author: Marjorie Miles Nov 03, 2016,
Nov 03, 2016, 1:22
The firm presently has a "market perform" rating on the stock. The company is optimistic the transaction can close by the end of 2016. The company was downgraded on Wednesday, May 11 by Telsey Advisory Group.
Analyst's Analysis on Office Depot, Inc. Roland C. Smith is one of the largest insider shareholders in Office Depot, Inc. They now have a United States dollars 4.5 price target on the stock. Downgraded the stock to Hold from Buy. The Corporation has a Mean Rating of 2.93 based on the Reuters Analysts consensus issuing ratings. The company exchanged total volume of 0 shares throughout course of last trade however it holds an average trading capacity of 7.53 million shares.
The business has a 50 day moving average of 3.48 and a 200 day moving average of 3.96 whilst the 52 week high shares of Office Depot, Inc. have reached is 7.91 and the 52 week low is 3.1.
Office Depot, Inc.'s (ODP) made a return of -14.80% in one month through last close, displaying a -11.73% return during the past three months. The company reported $0.03 EPS for the quarter, missing the Zacks' consensus estimate of $0.06 by $0.03. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to, among other things, Office Depot, based on current beliefs and assumptions made by, and information now available to, management. It operates under the Office Depot and OfficeMax brands. Revenues hit $3.22B in the June 2016 quarter, which was above the consensus $3.21B projection. During the same quarter in the prior year, the business posted $0.06 EPS. Finally, TheStreet raised Office Depot from a "sell" rating to a "hold" rating in a research report on Wednesday, August 10th. The shares were sold at an average price of $3.64, for a total value of $85,299.76.
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The Company on 01 November 2016 released the results of its latest Small Business Index which found that the primary holiday season concerns for small and mid-sized business owners (SMBs) are cash flow (32 percent) and productivity (23 percent).
A number of institutional investors have recently added to or reduced their stakes in the company. Pine River Capital Management L.P. purchased a new position in shares of Office Depot during the second quarter valued at $3,476,000. This Retail-Wholesale Sector stock now has the Market Capitalization of 1.64 Billion.
In the third quarter, Office Depot closed seven stores, none of which were in South Florida. AstraZeneca recently declared data from the second season of its SENTINEL1 study, the leading study ever to examine laboratory-confirmed respiratory syncytial virus hospitalizations (RSVH) among United States preterm infants 29-35 weeks gestational age (wGA) who were 12 months of age at the time of their RSVH admission.1,2 Infants enrolled did not receive immunoprophylaxis (IP) within 35 days before the onset of RSV disease symptoms during the 2014-2015 or 2015-2016 RSV seasons.1,2 Study results were presented at IDWeek 2016 in New Orleans, LA.