Office Depot to close 300 stores over three years

Office Depot to close 300 stores over three years

Office Depot, Inc.'s (ODP) price volatility for a month noted as 3.26% however its price volatility for a week documented as 3.25%.

Revenue fell 7% year-over-year to $2.84 billion and missed Wall Street's projections of $3.49 billion. 1 analyst has rated the company as a strong "Hold". The average numbers of shares are traded in a security per day, during the recent 3-month period.

UBS issued their verdict on Office Depot, Inc.

Even with today's sharp rally, ODP is just back to where shares stood three weeks ago. Looking forward, analysts on average predict that earnings for the current quarter would come in between $0.08 and $0.11. Office Depot reported actual earnings last quarter of 0.03 which fails to beats the.06 consensus estimate, a -50.00% surprise. The stock of Office Depot Inc (NASDAQ:ODP) has "Outperform" rating given on Monday, March 7 by Credit Suisse. The stock is down 59% year-to-date.

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However, they also have to contend with Amazon.com Inc and Wal-Mart Stores Inc to sell office supplies to consumers, who are increasingly using lesser stationery than before.

Office Depot saw its profit rise in the third quarter as cost-cuts and a $240 million tax benefit helped to offset the impact of lower revenue. There can be no assurances that Office Depot will realize these expectations or that these beliefs will prove correct, and therefore investors and stockholders should not place undue reliance on such statements.

Office Depot Inc opened for trading at $3.12 and hit $3.17 on the upside on Friday, eventually ending the session at $3.15, with a gain of 0.96% or 0.03 points. State Of Wisconsin Inv Board reported 40,000 shares or 0% of all its holdings. BlackRock Institutional Trust Company N.A. raised its position in Office Depot by 0.5% in the first quarter. He writes articles for Analysis of different Companies including news and analyst rating updates. Finally, Zacks Investment Research upgraded Office Depot from a "sell" rating to a "hold" rating in a report on Monday, August 8th. The company now has an average rating of "Hold" and a consensus price target of $5.62. Recently the stock has been recommended as Buy from 1 and 1 suggested Sell for the stock. Its EVP, Chief People Officer Allison Michael R sold 23,434 company shares for $85000.3, in a transaction on 2016-08-24. The number of shares now owned by investors are 537.17 mln. The Firm sells services and products to clients through three divisions: North American Retail Division, North American Business Solutions Division and International Division.

Office Depot shares plunged almost 40% after news of its halted merger in May. It operates under the Office Depot and OfficeMax brands.