Thursday, 25 May, 2017

Staples, Inc. (SPLS) Posts Quarterly Earnings Results, Hits Estimates

Kenny Thornton | 20 May, 2017, 05:01

Staples, Inc. has a 5.89B market cap and its past year revenues were 18.25B. (NASDAQ:SPLS), 2 have Buy rating, 0 Sell and 9 Hold. The stock has been downbeat for quite some time as is down -0.39% for the last 20 trading days, and now the firm's performance is turning out to be bearish with a -6.96% fall for the week. Further, its cost containment efforts that target annualized cost savings of almost $300 million by 2018 show promise. The North American Retail segment includes its retail stores in the United States and Canada. However, we expect the persistent weakness in the office products sector, technological advancements and stiff competition to continue weighing on the company's performance. "We noted that estimates have been stable lately ahead of the company's first-quarter fiscal 2017 earnings release".

Other equities research analysts have also issued reports about the company. Finally, Citigroup Inc raised Staples from a "neutral" rating to a "buy" rating and set a $12.00 price objective on the stock in a report on Wednesday, April 5th. $10.86's average target is 23.83% above currents $8.77 stock price. Loop Capital reaffirmed a "hold" rating and set a $10.00 price objective on shares of Staples in a report on Thursday, April 6th. Ten analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Staples Inc (NASDAQ:SPLS) high price target of $12 and with a conservative view have low price target of $8.

Shares of Staples (NASDAQ:SPLS) traded down 0.90% during trading on Thursday, hitting $8.77. The company had a trading volume of 1,310,813 shares. On the one hand, sales fell almost 5 percent from a year ago and missed his estimate by $142 million, North American Delivery sales fell 2.8 percent, North American Retail sales fell 8.2 percent and overall North American comps were weak. Additionally, Staples, Inc. (SPLS) stock price has gone down by -7.81% over the last 20 trading days, and its price is -13.66% below the 52-week high.

In terms of Buy, Sell or Hold recommendations, Staples Inc (NASDAQ:SPLS) has analysts' mean recommendation of 2.7. The Return on Equity (ROE) value stands at -32.6%. The firm had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.50 billion. During the same period previous year, the business posted $0.17 earnings per share. For the quarter, performance is at -4.28%. Afam stated it has 0.29% of its portfolio in Staples, Inc. The stock of Staples, Inc. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and worldwide trademark and copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/05/18/research-analysts-offer-predictions-for-staples-inc-s-q3-2018-earnings-spls.html.

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A number of large investors have recently bought and sold shares of the stock. Blue Sky Asset Management LLC acquired a new position in Staples during the first quarter worth about $732,000. Zacks Investment Research raised shares of Staples from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, January 19th.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares. Recently attention has been given to shares of Staples, Inc.

Market Capitalization can be thought of as the overall price to buy the company. APG Asset Management N.V. raised its stake in Staples by 50.4% in the third quarter. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17.

According to analysts Staples Inc (NASDAQ:SPLS)'s minimum EPS for the current quarter is at $0.11 and can go high up to $0.13. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer's stock valued at $109,000 after buying an additional 82 shares during the period.

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