Markets

Office Depot Inc (ODP) Stock Dives on Profit Miss, Weak Sales

Office Depot Inc (ODP) Stock Dives on Profit Miss, Weak Sales

A number of other equities analysts have also recently issued reports on ODP. The fund owned 97,640 shares of the specialty retailer's stock after buying an additional 6,360 shares during the period. Finally, BidaskClub upgraded Office Depot from a hold rating to a buy rating in a research note on Saturday, June 10th.

Shares of Office Depot tumbled almost 21% early Wednesday to $4.83. The stock declined 4.85% or $5.19 reaching $101.79 on the news. The specialty retailer reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. Eight analysts have rated the stock with a hold rating, Office Depot has a consensus rating of Hold and a consensus target price of $5.12. The market capitalization of the company is at $3.11 Billion.

Office Depot, Inc. has a 52 week low of $3.01 and a 52 week high of $6.15.

Dow streak of records ends amid US-North Korea tensions
Wall Street's three major indexes dipped after Trump vowed to respond aggressively to any threats from North Korea . US crude oil jumped 1% to $49.59/bbl after the week's crude inventory report showed a larger than expected draw.

On the other hand Office Depot Cmn (NASDAQ:ODP) has Relative Strength Index (RSI 14) of 65.35 along with Average True Range (ATR 14) of 0.18. This office supplies retailer posted adjusted earnings per share from continuing operations of 6 cents that missed the Zacks Consensus Estimate of 9 cents but came in line with the prior-year quarter. The company had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.44 billion. Office Depot had a return on equity of 13.39% and a net margin of 3.93%. A year ago, Office Depot announced plans to close an additional 300 stores over three years. This is the same as its earnings per share reported in the second quarter of 2016. If you are reading this news story on another domain, it was copied illegally and republished in violation of USA and global copyright law. The legal version of this story can be viewed at https://www.com-unik.info/2017/08/09/credit-suisse-ag-lowers-position-in-office-depot-inc-nasdaqodp-updated.html. It Used the "A Word'" with publication date: August 09, 2017. This dividend represents a yield of $1.62. Indeed, Amazon Business' rising clout had been one of Office Depot and Staples' key arguments to the U.S. Federal Trade Commission in explaining it should let the proposed merger go through. It opened the session with a $6.2 price tag, later ranging from $6.09 to $6.255, the range at which the stock has traded at throughout the day. Following the completion of the transaction, the insider now owns 763,691 shares in the company, valued at approximately $3,879,550.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. (NASDAQ:ODP) stock. Over the past few months, insider ownership has seen a move of -2.86% while institutional ownership has changed 0.75%. Allianz Asset Management Ag invested in 0.54% or 18.63M shares.

Thrivent Financial For Lutherans increased its position in shares of Office Depot, Inc. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,400 shares of the specialty retailer's stock valued at $425,000 after buying an additional 197 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Office Depot by 49.6% in the first quarter. As of quarter end Pacad Investment Ltd. had bought 16,800 shares growing its position 1,292.3%. Its last month's stock price volatility remained 1.25% which for the week approaches 1.51%. Credit Agricole S A acquired a new stake in shares of Office Depot during the fourth quarter worth approximately $149,000. Norges Bank purchased a new stake in shares of Office Depot during the fourth quarter worth about $43,558,000.

Office Depot, Inc. provides a selection of services and products to clients and businesses of various sizes. Also the company closed 31 stores and ended the quarter with a total of 1,408 retail stores in the Retail 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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