Revenue Update on Office Depot Inc(NASDAQ:ODP)

Office Depot Inc(NASDAQ:ODP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $3.22B. Analysts estimated a revenue of $3.20B. Earnings per share were $0.03. Analysts had estimated an EPS of $0.06.

In a different note, On May 11, 2016, Jefferies said it Downgrades its rating on Office Depot Inc. The shares have been rated ‘Sell’ by the firm. On May 11, 2016, UBS said it Downgrades its rating on Office Depot Inc. In the research note, the firm Lowers the price-target to $5.50 per share. The shares have been rated ‘Sell’ by the firm. On May 11, 2016, Telsey Advisory Group said it Downgrades its rating on Office Depot Inc. The shares have been rated ‘Market Perform’ by the firm.

Office Depot Inc (ODP) made into the market gainers list on Fridays trading session with the shares advancing 0.28% or 0.01 points. Due to strong positive momentum, the stock ended at $3.64, which is also near the day’s high of $3.67. The stock began the session at $3.61 and the volume stood at 49,21,460 shares. The 52-week high of the shares is $8.0131 and the 52 week low is $3.11. The company has a current market capitalization of $1,980 M and it has 54,39,29,700 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Nigel Travis (director) purchased 14,267 shares at $3.47 per share price.Also, On Jun 3, 2015, Steven Mark Schmidt (President, International) sold 210,000 shares at $9.28 per share price.

Office Depot Inc. is a supplier of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division North American Business Solutions Division and International Division. The North American Retail Division sells an assortment of merchandise through its chain of office supply stores throughout the United States including Puerto Rico and the U.S. Virgin Islands. The North American Business Solutions Division sells office supplies technology products cleaning and breakroom supplies office furniture certain services and other solutions to customers. The International Division sells office products and services through direct mail catalogs contract sales forces Internet sites and retail stores. The Company also operates a network of distribution centers (DC) and crossdock facilities across the United States Puerto Rico and Canada.

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