2.30 -0.04 (-1.71%)
After hours: 7:50PM EDT
|Bid||2.22 x 1000|
|Ask||2.40 x 3000|
|Day's Range||2.29 - 2.35|
|52 Week Range||2.00 - 6.26|
|PE Ratio (TTM)||6.99|
|Forward Dividend & Yield||0.10 (4.55%)|
|1y Target Est||N/A|
The ratings on the P&I classes, Classes F and G, were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. The rating on the P&I class, Class H, was affirmed because the rating is consistent with Moody's realized losses. Moody's rating action reflects a base expected loss of 0% of the current pooled balance, the same as at Moody's last review.
Last quarter, billionaire David Einhorn took on eight new positions and increased the size of two prior stakes, according to a report by Street Insider. The news became available to the public as a result of the 13F filing submitted to the SEC by Einhorn's Greenlight Capital. Greenlight, along with all other hedge funds and institutional investors managing at least $100 million in assets, was required to submit filings within 45 days of the end of the first quarter of the year.
David Einhorn’s Greenlight Capital added 2.1 million shares of Office Depot Inc (NASDAQ:ODP) and 212,500 shares of Abercrombie & Fitch Co. (NYSE:ANF) in the first quarter while also jettisoning some well-known names. With retail seemingly in a better place these days, does either Office Depot stock or ANF stock make sense in your portfolio? Office Depot stock is down 33% year to date through May 15.
Office Depot expects revenue from services to reach 20% of total sales by 2020. The company also introduced “workonomy,” the company’s plan for offering integrated business services to enterprise customers as well as SMB (small and medium-size business) customers. More importantly, Office Depot added that “workonomy” will help SMBs to create support based on their business requirements. Office Depot stock surged 5.1% on May 16.
The hedge fund reported holding 2.1 million shares of Office Depot and 212,500 shares of Abercrombie as of the end of the first quarter
Are Office Depot’s Troubles Waning? Since the 1Q18 results, several analysts have revised their price targets for Office Depot. Currently, the analysts’ 12-month average target price is $2.71, which reflects a 17.8% upside to the price of the stock on May 10.
Office Depot’s (ODP) gross margin contracted ~160 bps (basis points) to 23.6% since the cost of goods sold increased more than 8%. The company’s operating margin narrowed by 190 bps to 2.7%, primarily due to an ~8% increase in SG&A (selling, general, and administrative) expenses. Its adjusted operating margin contracted 220 bps to 3.3%, marred by the company’s transformative initiatives and lower sales for the Retail division.
Are Office Depot’s Troubles Waning? Office Depot (ODP) stock rose 6.5% on May 10 after the company reported its 1Q18 results on May 9. It looks like Office Depot’s transition to becoming a business service provider was a smart move.
Investing.com - Wall Street opened slightly higher on Wednesday as investors priced in company news and signs of inflation easing, while oil jumped in reaction to President Donald Trump’s decision to withdraw from the Iranian nuclear deal and impose sanctions on the country.
Favorable results and strategic initiatives, including strengthening of core businesses and expansion of service and subscription offerings, prompted Office Depot (ODP) to provide an encouraging outlook.
Investing.com - U.S. futures pointed to a higher open on Wednesday as investors continued to digest President Donald Trump’s decision to withdraw from the Iranian nuclear deal and impose sanctions on the country, while looking ahead to more earnings reports and inflation data.
After Office Depot (ODP) announced its 1Q18 results today, its stock had risen 4.2% as of 8:00 AM ET (Eastern Time). The company reported sales of $2.8 billion, beating analysts’ estimate of $2.7 billion and marking a 5.8% rise YoY (year-over-year), driven by strategic initiatives. Office Depot’s adjusted EPS (earnings per share) from continuing operations were $0.08, in line with Wall Street’s estimate but 50% lower YoY.
Each day, the Benzinga Pro news team highlights several stocks with Trading Idea potential. Be the first to see them by becoming a Benzinga Pro user ! Walmart Inc (NYSE: WMT ) stock was trading lower by ...
The Boca Raton, Florida-based company said it had profit of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 8 cents per share. The results matched Wall Street expectations. ...
In 1Q18, analysts expect Office Depot’s (ODP) adjusted EPS (earnings per share) to fall 50% YoY (year-over-year) to $0.08 from $0.16, and its adjusted net income to fall YoY to $43.3 million from $88.0 million. Lower sales (mainly due to store closures) and profitability (due to ongoing investments) could weigh on Office Depot’s bottom line. Its gross margin is expected to contract YoY to 24.9% from 25.2%, and its adjusted operating margin is expected to contract YoY to 3.3% from 5.6%.
Office Depot (ODP) is scheduled to report its 1Q18 results on May 9. Analysts expect the company to report sales of $2.7 billion, marking a 1.7% YoY (year-over-year) rise. In contrast, its sales fell 7% in 1Q17.
As of May 3, Office Depot (ODP) stock had fallen 35.9% YTD (year-to-date). The company is scheduled to report its 1Q18 results on May 9. The stock price movement isn’t likely to change much as analyst projections have been subdued. Though sales are expected to increase 1.7%, its adjusted earnings per share are expected to fall 50% as a result of lower sales (due to store closures) and ongoing investments.
Ahead of Office Depot’s (ODP) 1Q18 release, set for May 9, most (57%) of the seven analysts covering the stock have recommended “hold,” while 29% recommended “sell” and 14% recommended “buy.”
The rating on the P&I class was upgraded based primarily on an increase in credit support resulting from loan paydowns and amortization. The deal has paid down 23% since Moody's last review. The ratings on the IO classes were affirmed based on the credit quality of the referenced classes.
Office Depot shares soaring on Wednesdady as the company unveiled new details on its strategic transformation at an investor day in New York PLUS news that David Einhorn's Greenlight Capital took a sizable stake in the retailer helped shares. CEO of Office Depot, Gerry Smith, is here to talk to us about the future for the company.