Published: Sun, March 12, 2017
Business | By Sandy Mccarthy

Staples, Inc. (SPLS) Announces Quarterly Earnings Results

Staples, Inc. (SPLS) Announces Quarterly Earnings Results

(NASDAQ:SPLS) rose as much as 7% during the trading day today before dropping back to hover around a rise of 4%.

"Staples, Inc. (SPLS) Announces Quarterly Earnings Results" was published by Community Financial News and is owned by of Community Financial News. (NASDAQ:SPLS) to post net income of about $0.34 per share on $5,400.50M in revenue. Legal & General Group Plc now owns 3,539,895 shares of the company's stock worth $30,507,000 after buying an additional 109,013 shares during the last quarter. Loop Capital started coverage on Staples in a report on Tuesday, December 13th. Zacks Investment Research raised shares of Staples from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Thursday, January 19th. Staples's payout ratio is -66.67%. TheStreet upgraded Staples from a sell rating to a hold rating in a report on Monday, December 5th.

Total shares held by institutions as of the most recent company filings are 413,988,606 with a reported 35,546,183 bought and 60,875,112 sold. Finally, Tocqueville Asset Management L.P. boosted its stake in Staples by 227.3% in the second quarter. Amalgamated Bank now owns 88,609 shares of the company's stock worth $823,000 after buying an additional 65,661 shares in the last quarter. They issued a "hold" rating and a $10.00 target price on the stock. Twelve analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has fallen nearly 6 percent in the last 12 months. Hillsdale Investment Management Inc. now owns 44,600 shares of the company's stock worth $385,000 after buying an additional 13,300 shares in the last quarter. Following the completion of the transaction, the senior vice president now directly owns 80,431 shares in the company, valued at approximately $801,897.07. The stock has a consensus rating of "Hold" and an average price target of $10.05.

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The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . Company's distance from 20 day simple moving average is 1.40% and distance from 50-Day simple moving average is 2.08%.

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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 MarketBeat.com's FREE daily email newsletter. Instead Staples is hoping to sell more business services and connect with more customers online.

Hedge funds have recently modified their holdings of the stock. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services.

Staples Business Advantage, the company's North American contract business, achieved flat sales contrast to the fourth quarter of 2015 on a GAAP basis, and a comparable sales increase of four percent.

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