Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Office Depot (ODP) Share Price
Headlines about Office Depot (NASDAQ:ODP) have trended somewhat positive on Thursday, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Office Depot earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave news coverage about the specialty retailer an impact score of 46.5183714918077 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- Active swings Under Radar: Office Depot, Inc. (ODP) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Charting the Office Depot, Inc. (ODP): does technical analysis work? – Wall Street Morning (wallstreetmorning.com)
- Office Depot (ODP) Downgraded by ValuEngine to “Hold” (americanbankingnews.com)
- Office Depot, Inc., (NASDAQ: ODP) – Volatile Stock Characteristics – Stock Watch (stocksnewstimes.com)
- Office Depot: New Opportunities Due To Changes In Business Concept – Seeking Alpha (seekingalpha.com)
ODP has been the topic of several research analyst reports. JPMorgan Chase & Co. cut Office Depot from a “neutral” rating to an “underweight” rating in a research report on Monday, October 30th. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Jefferies Group reissued a “hold” rating and issued a $4.15 price objective (down previously from $5.00) on shares of Office Depot in a research report on Friday, October 6th. BidaskClub cut Office Depot from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Finally, ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.08.
Office Depot (NASDAQ ODP) opened at $3.50 on Thursday. Office Depot has a 1 year low of $2.97 and a 1 year high of $6.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.52. The company has a market capitalization of $1,810.00, a price-to-earnings ratio of 7.45, a PEG ratio of 1.04 and a beta of 2.86.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. sell-side analysts forecast that Office Depot will post 0.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.86%. Office Depot’s payout ratio is 21.28%.
In related news, insider Michael R. Allison sold 360,000 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.43% of the company’s stock.
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About Office Depot
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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