Office Depot (NASDAQ:ODP) Hits New 1-Year Low at $1.33

Office Depot Inc (NASDAQ:ODP)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $1.33 and last traded at $1.35, with a volume of 102495 shares. The stock had previously closed at $1.45.

A number of analysts have commented on the company. BidaskClub lowered Office Depot from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 13th. ValuEngine lowered Office Depot from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 8th. Bank of America reduced their target price on Office Depot from $2.00 to $1.20 and set an “underperform” rating for the company in a report on Tuesday. Finally, Zacks Investment Research raised Office Depot from a “hold” rating to a “strong-buy” rating and set a $2.00 target price for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $2.40.

The stock has a market capitalization of $786.78 million, a PE ratio of 3.87, a P/E/G ratio of 0.36 and a beta of 2.32. The company has a current ratio of 1.07, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $1.86 and a 200-day moving average price of $2.47.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.59 billion. Office Depot had a return on equity of 9.35% and a net margin of 0.27%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. Research analysts forecast that Office Depot Inc will post 0.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.10 annualized dividend and a yield of 7.41%. Office Depot’s dividend payout ratio (DPR) is presently 28.57%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Magnetar Financial LLC increased its stake in Office Depot by 38.0% during the second quarter. Magnetar Financial LLC now owns 331,931 shares of the specialty retailer’s stock worth $684,000 after acquiring an additional 91,454 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Office Depot during the second quarter worth approximately $5,285,000. Price T Rowe Associates Inc. MD increased its stake in Office Depot by 19.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 453,912 shares of the specialty retailer’s stock worth $935,000 after acquiring an additional 72,603 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Office Depot by 8.9% during the second quarter. UBS Asset Management Americas Inc. now owns 569,840 shares of the specialty retailer’s stock worth $1,174,000 after acquiring an additional 46,648 shares during the last quarter. Finally, Canyon Capital Advisors LLC bought a new stake in Office Depot during the second quarter worth approximately $25,583,000. Institutional investors own 88.06% of the company’s stock.

About Office Depot (NASDAQ:ODP)

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

Recommended Story: What are catch-up contributions?

Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.