Office Depot Inc (NASDAQ:ODP) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.08.

Several brokerages have commented on ODP. BidaskClub cut shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. ValuEngine cut shares of Office Depot from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. cut shares of Office Depot from a “neutral” rating to an “underweight” rating in a research report on Monday, October 30th.

Shares of Office Depot (NASDAQ ODP) traded up $0.06 during midday trading on Friday, hitting $3.10. 7,253,000 shares of the company were exchanged, compared to its average volume of 4,099,345. Office Depot has a fifty-two week low of $2.89 and a fifty-two week high of $6.26. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1,599.97, a PE ratio of 5.25, a P/E/G ratio of 0.48 and a beta of 2.47.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business earned $0.16 earnings per share. The company’s revenue was down 7.6% on a year-over-year basis. analysts expect that Office Depot will post 0.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.10 annualized dividend and a yield of 3.23%. Office Depot’s payout ratio is presently 16.95%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its position in Office Depot by 16.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,237,692 shares of the specialty retailer’s stock worth $137,279,000 after purchasing an additional 4,305,079 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Office Depot by 8.5% during the third quarter. Dimensional Fund Advisors LP now owns 36,937,250 shares of the specialty retailer’s stock worth $167,696,000 after purchasing an additional 2,908,017 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Office Depot by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock worth $250,086,000 after purchasing an additional 1,286,833 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Office Depot by 436.3% during the third quarter. American Century Companies Inc. now owns 1,388,910 shares of the specialty retailer’s stock worth $6,306,000 after purchasing an additional 1,129,943 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Office Depot by 46.5% during the second quarter. FMR LLC now owns 3,061,202 shares of the specialty retailer’s stock worth $17,265,000 after purchasing an additional 971,036 shares during the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.

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Office Depot Company Profile

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.

Analyst Recommendations for Office Depot (NASDAQ:ODP)

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