Office Depot OBD stock.
Office Depot, Inc. is an Americanoffice supply retailing company headquartered in Boca Raton, Florida. The company has combined annual sales of approximately $11 billion, and employs about 38,000 associates with businesses in the United States. Initial public offering of common stock completed on June 1, 1988. Listed on the NASDAQ under the symbol “ODEP”
NEWS MARCH 2019 Office Depot’s ‘PC Health Check’ was a fraud
Office Depot and its California-based support software partner Support.com has agreed to pay the Federal Trade Commission (FTC) a total of $35 million to settle claims that they tricked customers into buying unneeded tech support and repair services through in-house PC scans that gave fake results.
Office Depot will shoulder $25 million while Support.com will pay the remaining $10 million.
If you ever had your PC serviced by Office Depot (or OfficeMax) between 2009 and 2016, you may be eligible for a payout. Why? Well, the FTC said that it intends to use the funds to provide refunds to affected customers. Note: Office Depot merged with OfficeMax in 2013.
Office Depot was founded in October 1986 by F. Patrick Sher, Stephen Doughtery, and Jack Kopkin, who became the company’s chairman and chief executive officer.
In December 2001, Viking Direct expanded to Central America with new retail stores in El Salvador, Guatemala, and Costa Rica through a joint licensing agreement. Office Depot sold Office Depot Europe (Viking Direct’s parent) to an investment firm in September 2017.
On February 20, 2013, it was announced that Office Depot and office max would combine in an all stock deal, pending regulatory approval and stockholder approval. The merger was completed on November 5, 2013. In May 2014, Office Depot announced the closure of four hundred stores, due to declining sales and customer migration to e retailers.
On February 4, 2015, it was announced that rival staples had agreed to purchase Office Depot, in a cash and stock deal worth approximately $6.3 billion. However, the federal trade commission voted to block the merger in December 2015. In January 2017, Gerry Smith was named as the company’s new CEO, Mr. Gerry P. Smith has been the Chief Executive Officer at Office Depot, Inc. since February 27, 2017. Mr. Smith served as an Executive Vice President of Lenovo Group Limited and also served as its Chief Operating Officer PCs & Smart Devices since November 3, 2016
on 02/05/2019 declared a dividend of $ 0.0250 per share payable on March 15, 2019 to shareholders of record as of March 01, 2019.
Office Depot, Inc. (NASDAQ:ODP) has paid dividends since 2016, has a current dividend yield of 3.3557047844% and has increased its dividends for 0 successive years.
Office Depot, Inc.’s market cap is $ 1,630,650,040 and has a PE ratio of 27.09. The stock price closed yesterday at $ 2.98 and has a 52 week low/high of $ 2.00 and $ 3.63.
Since Aug 23, 2016 there have been 10 dividend payouts.
Some stocks pay dividends while others don’t. Many investors believe, choosing a dividend paying stock helps with steady income apart from possible capital gains.
Can you take advantage of office depot at this low price?
Wall Street brokerages expect Office Depot Inc (NASDAQ:ODP) to announce $2.83 billion in sales for the current quarter zacks reports. Two analysts have made estimates for Office Depot’s earnings. The lowest sales estimate is $2.81 billion and the highest is $2.84 billion. Office Depot also posted sales of $2.83 billion in the same quarter last year. The company is planned to report its next quarterly earnings report on Wednesday, May 8th.
According to Zacks, analysts expect that Office Depot will report full-year sales of $11.06 billion for the current fiscal year, with estimates ranging from $11.01 billion to $11.10 billion. For the next year, analysts forecast that the firm will report sales of $11.07 billion, with estimates ranging from $10.96 billion to $11.18 billion
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print and shops, cleaning supplies, breakrooms, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
So will office depot go lower? And do you want to pick up some shares? Well at at humbling price of 2-3 dollars per share price, if the company does meet its sales target by quarter 3, then picking up some shares could become profitable.
1000 shares would get you about 25 dollars every 3 months consistently over the last 5 years at least. 1000 shares at 3 dollars a share would cost you about 3000 bucks. So, is it worth getting 100 dollars a years, maybe 50 bucks after capital gains tax parking up OBD stock. Well if you re-invest that 50-100 bucks, in a years you would have about 1020 shares. How many shares would you have by year 5? Or year 10? Depends on how well the company has done, but with their track record of paying dividends consistently and the companies footprint in the supplies industry, would It would be very profitable to park A few thousand dollars of Office depot in your portfolio. You bet!!! Especially if you can buy on the low dips the last 6 months, the 2.500 to 3.00 dollar range is a great loading zone. What do you think? About Office depot Stock?
There are some bad news including their taking advantage of customers and having to pay a lawsuit, Office Depot and Support.com to pay $35 million to settle charges of tech support scam. However, this may be an opportunity to park a few thousand dollars and let them grow oh so slow, 5 years minimum investment. Any comments, thoughts would be appreciated, thanks.