Staples, Inc. (NASDAQ:SPLS)‘s stock had its “hold” rating reaffirmed by stock analysts at Oppenheimer Holdings, Inc. in a report issued on Tuesday, May 16th.
Several other analysts have also issued reports on the stock. Citigroup Inc. upgraded shares of Staples from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, April 5th. Zacks Investment Research upgraded shares of Staples from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, January 19th. Jefferies Group LLC restated a “hold” rating and issued a $9.00 price objective on shares of Staples in a report on Thursday, April 6th. Finally, Loop Capital reiterated a “hold” rating and set a $10.00 price target on shares of Staples in a research note on Thursday, April 6th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.06.
Shares of Staples (SPLS) traded down 2.11% during midday trading on Tuesday, reaching $8.80. 8,898,807 shares of the company’s stock were exchanged. The stock’s market cap is $5.75 billion. Staples has a 12-month low of $7.24 and a 12-month high of $10.25. The stock’s 50 day moving average is $9.20 and its 200-day moving average is $9.25.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. On average, equities analysts expect that Staples will post $0.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Friday, June 23rd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Wednesday, June 21st. Staples’s dividend payout ratio (DPR) is -13.30%.
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A number of institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp increased its position in shares of Staples by 25.4% in the third quarter. OMERS ADMINISTRATION Corp now owns 250,100 shares of the specialty retailer’s stock worth $2,138,000 after buying an additional 50,600 shares during the period. ING Groep NV increased its position in shares of Staples by 15.2% in the fourth quarter. ING Groep NV now owns 208,799 shares of the specialty retailer’s stock worth $1,917,000 after buying an additional 27,572 shares during the period. James Investment Research Inc. acquired a new position in shares of Staples during the first quarter worth about $139,000. HighPoint Advisor Group LLC increased its position in shares of Staples by 105.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 102,732 shares of the specialty retailer’s stock worth $942,000 after buying an additional 52,792 shares during the period. Finally, Concert Wealth Management Inc. increased its position in shares of Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock worth $109,000 after buying an additional 82 shares during the period. 92.47% of the stock is owned by hedge funds and other institutional investors.
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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