Office Depot Inc (NASDAQ:ODP) announced a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Shareholders of record on Friday, August 23rd will be given a dividend of 0.025 per share by the specialty retailer on Friday, September 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, August 22nd.
Office Depot has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Office Depot to earn $0.40 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 25.0%.
Shares of Office Depot stock opened at $1.44 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. Office Depot has a twelve month low of $1.33 and a twelve month high of $3.82. The stock has a market cap of $786.78 million, a price-to-earnings ratio of 4.11, a P/E/G ratio of 0.36 and a beta of 2.32. The company’s fifty day moving average is $1.88 and its 200 day moving average is $2.48.
Several brokerages recently weighed in on ODP. ValuEngine cut shares of Office Depot from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 8th. Bank of America reduced their price objective on shares of Office Depot from $2.00 to $1.20 and set an “underperform” rating on the stock in a research note on Tuesday. BidaskClub cut shares of Office Depot from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Zacks Investment Research raised shares of Office Depot from a “hold” rating to a “strong-buy” rating and set a $2.00 price objective on the stock in a research note on Friday, August 9th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price 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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