Wall Street analysts predict that Office Depot Inc (NASDAQ:ODP) will report $0.13 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Office Depot’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.15. Office Depot posted earnings of $0.14 per share in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Office Depot will report full year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.33 to $0.37. For the next financial year, analysts forecast that the company will report earnings of $0.38 per share, with EPS estimates ranging from $0.37 to $0.40. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Office Depot.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. During the same quarter last year, the company earned $0.06 EPS.

Several brokerages have recently weighed in on ODP. BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Bank of America reissued a “buy” rating and set a $3.00 target price on shares of Office Depot in a research report on Thursday, May 17th. ValuEngine raised Office Depot from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised Office Depot from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $3.88.

ODP stock traded up $0.04 during mid-day trading on Friday, reaching $3.24. The company had a trading volume of 207,361 shares, compared to its average volume of 4,014,927. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.85. The firm has a market capitalization of $1.76 billion, a P/E ratio of 7.08, a P/E/G ratio of 0.53 and a beta of 2.73. Office Depot has a fifty-two week low of $2.00 and a fifty-two week high of $4.65.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, August 23rd. Office Depot’s dividend payout ratio (DPR) is presently 22.22%.

Several hedge funds and other institutional investors have recently modified their holdings of ODP. BlackRock Inc. raised its position in shares of Office Depot by 34.0% during the 2nd quarter. BlackRock Inc. now owns 72,728,081 shares of the specialty retailer’s stock worth $185,458,000 after acquiring an additional 18,466,409 shares in the last quarter. Towle & Co. purchased a new position in Office Depot during the 1st quarter worth approximately $24,235,000. SG Americas Securities LLC grew its stake in Office Depot by 557.0% during the 2nd quarter. SG Americas Securities LLC now owns 10,316,418 shares of the specialty retailer’s stock worth $26,307,000 after buying an additional 8,746,140 shares during the last quarter. Laurion Capital Management LP grew its stake in Office Depot by 38,083.7% during the 2nd quarter. Laurion Capital Management LP now owns 4,849,336 shares of the specialty retailer’s stock worth $12,366,000 after buying an additional 4,836,636 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Office Depot by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 42,881,014 shares of the specialty retailer’s stock worth $109,349,000 after buying an additional 4,618,163 shares during the last quarter. 90.59% of the stock is currently owned by institutional investors and hedge funds.

About Office Depot

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

Read More: What are CEFs?

Get a free copy of the Zacks research report on Office Depot (ODP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.