Staples to close around 70 stores in 2017

Adjust Comment Print

It also reported earnings per share of 25 cents per share for the quarter. The retailer also operates some stores around the world.

If we have a peek on EPS and surprise factor history during last four quarters, for the previous quarter ended on 10/2016, the consensus mean EPS was $0.34 while Staples, Inc. The stock has fallen nearly 6 percent in the last 12 months. ING Groep NV now owns 208,799 shares of the company's stock valued at $1,917,000 after buying an additional 27,572 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Staples by 286.1% in the second quarter.

A number of equities analysts recently commented on the company. Victory Capital Management Inc. raised its position in Staples by 50.5% in the third quarter. Amalgamated Bank now owns 88,609 shares of the company's stock worth $823,000 after buying an additional 65,661 shares during the last quarter.

In her statement Thursday, CEO Shira Goodman sought to assure investors that the company's turnaround is on track.

Receive Staples, Inc. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Staples, Inc. with's FREE daily email newsletter. These holdings make up 63.65% of the company's outstanding shares. The stock's market cap is $5.83 billion. The stock has a 50 day moving average price of $9.12 and a 200 day moving average price of $8.82. One year trading price range hit the peak level of $10.92 and touched the lowest level of $7.15. Wall Street is expecting the company to report earnings per share of 17 cents for this quarter. Staples had a positive return on equity of 11.46% and a negative net margin of 2.25%.

Total company comparable sales for the fourth quarter of 2016 declined one percent contrast to the fourth quarter of 2015.

The Staples closing plans weren't the only bad news the company had in its earnings report for the fourth quarter of the year. The firm's revenue for the quarter was down 2.9% compared to the same quarter past year. Pzena Investment Management, LLC is the second biggest holder with 32 million shares now valued at 290.74 million whilst Fidelity Management and Research Company has 30 million shares valued at 288.49 million. The company closed 48 of its stores during the year. Stockholders of record on Friday, March 24th will be paid a $0.12 dividend. Additionally, the company is still maintaining its $0.12 dividend, for a yield of about 5.4%, which may be encouraging for those helping to lift the stock today. The ex-dividend date is Wednesday, March 22nd. Staples's dividend payout ratio (DPR) is presently -66.67%. (NASDAQ:SPLS) in a research report sent to investors on Saturday. Zacks Investment Research cut Staples from a "hold" rating to a "sell" rating in a research report on Thursday, November 10th. Loop Capital started coverage on Staples in a report on Tuesday, December 13th. They set a hold rating and a $10.00 price target for the company. TheStreet raised shares of Staples from a "sell" rating to a "hold" rating in a research note on Monday, December 5th. The stock has a consensus rating of "Hold" and an average price target of $10.05.

Staples stock gave up 19 cents, or 2.1 percent, to $8.77 during morning trade, The Associated Press reported. Following the transaction, the SVP Corporate Controller is left with a stake of 80,431 shares, now valued at $682859. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Executives hold 1.21 percent of the stock. The company is looking to sell more business services and connect with customers online.

Staples, Inc. (NASDAQ:SPLS) has announced that it will be closing 70 stores in 2017.