“DRI delivered a better than expected F1Q with inline +1.3% blended SSS and EPS of $0.88, $0.06 above expectations, helped by a $0.04 gain (included in prior guidance) and buybacks. F17 SSS guide maintained at 1%-2%, but EPS raised by $0.07 at the midpoint to $3.92. We believe DRI remains positioned to continue its company-specific momentum in the near-term in a challenging environment where we expect weak C3Q reports overall.”,” Jefferies Group’s analyst wrote.
Other analysts have also recently issued research reports about the stock. Argus restated a hold rating on shares of Staples in a research note on Friday, July 15th. Zacks Investment Research cut shares of Staples from a buy rating to a hold rating in a research note on Friday, August 19th. Vetr upgraded shares of Staples from a buy rating to a strong-buy rating and set a $9.50 target price for the company in a research note on Monday, June 27th. Deutsche Bank AG reduced their target price on shares of Staples from $9.00 to $8.00 and set a hold rating for the company in a research note on Thursday, August 18th. Finally, Morgan Stanley set a $10.00 target price on shares of Staples and gave the stock a hold rating in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $11.29.
Shares of Staples (NASDAQ:SPLS) opened at 8.03 on Wednesday. The stock’s 50 day moving average is $8.49 and its 200-day moving average is $9.21. Staples has a 1-year low of $8.00 and a 1-year high of $13.50. The stock’s market cap is $5.22 billion.
Staples (NASDAQ:SPLS) last released its earnings results on Wednesday, August 17th. The company reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. The company earned $4.80 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.12 EPS. The business’s revenue was down 3.7% on a year-over-year basis. On average, analysts predict that Staples will post $0.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 23rd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.48 annualized dividend and a dividend yield of 5.98%. Staples’s dividend payout ratio is currently -70.59%.
Several large investors have recently added to or reduced their stakes in SPLS. Mackenzie Financial Corp purchased a new stake in Staples during the second quarter valued at about $100,000. Concert Wealth Management Inc. purchased a new stake in Staples during the second quarter valued at about $103,000. Veritable L.P. purchased a new stake in Staples during the second quarter valued at about $103,000. Lapides Asset Management LLC purchased a new stake in Staples during the second quarter valued at about $106,000. Finally, Heartland Advisors Inc. purchased a new stake in Staples during the second quarter valued at about $110,000. 86.59% of the stock is currently owned by institutional investors.
Staples Company Profile
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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