Staples, Inc. (NASDAQ:SPLS) received a $8.00 price objective from stock analysts at Deutsche Bank AG in a report released on Thursday. The firm presently has a “hold” rating on the specialty retailer’s stock. Deutsche Bank AG’s price target points to a potential downside of 13.04% from the stock’s previous close.
SPLS has been the subject of several other research reports. Jefferies Group LLC restated a “hold” rating and issued a $9.00 price target on shares of Staples in a research report on Thursday, April 6th. Zacks Investment Research downgraded shares of Staples from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. Citigroup Inc. upgraded shares of Staples from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, April 5th. Finally, Loop Capital restated a “hold” rating and issued a $5.00 price target on shares of Staples in a research report on Friday, May 19th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Staples presently has an average rating of “Hold” and a consensus price target of $9.06.
Staples (SPLS) opened at 9.20 on Thursday. Staples has a 12-month low of $7.24 and a 12-month high of $10.25. The firm’s market capitalization is $6.01 billion. The stock has a 50 day moving average price of $9.15 and a 200-day moving average price of $9.23.
Staples (NASDAQ:SPLS) last released its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that Staples will post $0.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.48 dividend on an annualized basis and a yield of 5.22%. Staples’s payout ratio is -13.30%.
A number of large investors have recently added to or reduced their stakes in SPLS. Public Sector Pension Investment Board increased its stake in Staples by 0.6% in the fourth quarter. Public Sector Pension Investment Board now owns 142,972 shares of the specialty retailer’s stock worth $1,294,000 after buying an additional 900 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Staples by 32.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 83,234 shares of the specialty retailer’s stock worth $754,000 after buying an additional 20,277 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Staples during the fourth quarter worth about $108,000. Cantab Capital Partners LLP increased its stake in Staples by 59.1% in the fourth quarter. Cantab Capital Partners LLP now owns 47,692 shares of the specialty retailer’s stock worth $432,000 after buying an additional 17,716 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Staples by 1,571.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,272,822 shares of the specialty retailer’s stock worth $11,530,000 after buying an additional 1,196,694 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.
Staples Company Profile
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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