Office Depot Inc (NASDAQ:ODP) Plans Quarterly Dividend of $0.03

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Office Depot Inc (NASDAQ:ODP) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.025 per share by the specialty retailer on Friday, December 13th. This represents a $0.10 dividend on an annualized basis and a yield of 3.97%.

NASDAQ ODP traded up $0.33 during trading on Wednesday, reaching $2.52. 1,301,492 shares of the company’s stock were exchanged, compared to its average volume of 5,476,786. The business has a 50 day moving average price of $1.83 and a 200-day moving average price of $1.90. The stock has a market capitalization of $1.11 billion, a P/E ratio of 7.34, a PEG ratio of 0.50 and a beta of 2.55. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 0.72. Office Depot has a fifty-two week low of $1.23 and a fifty-two week high of $3.82.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.59 billion. Office Depot had a return on equity of 9.35% and a net margin of 0.27%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, analysts forecast that Office Depot will post 0.37 earnings per share for the current year.

ODP has been the topic of a number of recent analyst reports. Zacks Investment Research raised Office Depot from a “hold” rating to a “strong-buy” rating and set a $2.00 price target on the stock in a research report on Friday, August 9th. ValuEngine raised Office Depot from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub raised Office Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America lowered their price target on Office Depot from $2.00 to $1.20 and set an “underperform” rating on the stock in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.40.

About Office Depot

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

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Dividend History for Office Depot (NASDAQ:ODP)

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