“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.”,” the firm’s analyst wrote.
SPLS has been the topic of several other research reports. Zacks Investment Research lowered Staples from a buy rating to a hold rating in a report on Friday, August 19th. TheStreet lowered Staples to a sell rating in a report on Friday, August 19th. Deutsche Bank AG dropped their target price on Staples from $9.00 to $8.00 and set a hold rating on the stock in a report on Thursday, August 18th. Morgan Stanley set a $10.00 target price on Staples and gave the stock a hold rating in a report on Thursday, August 18th. Finally, Citigroup Inc. dropped their target price on Staples from $18.00 to $15.00 and set a neutral rating on the stock in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Staples currently has a consensus rating of Hold and an average price target of $11.29.
Shares of Staples (NASDAQ:SPLS) opened at 8.05 on Wednesday. The firm has a 50-day moving average price of $8.48 and a 200-day moving average price of $9.17. The firm’s market cap is $5.24 billion. Staples has a 12-month low of $7.99 and a 12-month high of $13.50.
Staples (NASDAQ:SPLS) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company earned $4.80 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. Staples’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities research analysts anticipate that Staples will post $0.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 23rd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Wednesday, September 21st. Staples’s payout ratio is -70.59%.
Several institutional investors have recently bought and sold shares of the stock. Kleinwort Benson Investors Dublin Ltd purchased a new position in Staples during the second quarter valued at approximately $100,162,000. Renaissance Technologies LLC increased its position in Staples by 405.7% in the first quarter. Renaissance Technologies LLC now owns 8,998,779 shares of the company’s stock valued at $99,257,000 after buying an additional 7,219,432 shares during the last quarter. Bank of New York Mellon Corp increased its position in Staples by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 35,891,328 shares of the company’s stock valued at $309,382,000 after buying an additional 6,946,466 shares during the last quarter. Ameriprise Financial Inc. increased its position in Staples by 159.3% in the second quarter. Ameriprise Financial Inc. now owns 3,840,622 shares of the company’s stock valued at $33,107,000 after buying an additional 2,359,654 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Staples by 31.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,174,413 shares of the company’s stock valued at $61,842,000 after buying an additional 1,715,951 shares during the last quarter. 86.59% of the stock is currently owned by institutional investors.
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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