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UBS Cuts Estimates on Staples; Office Max/Office Depot Merger May Over Shadow Stock (SPLS)
On Thursday, analysts at UBS cut the earnings estimates on Staples, Inc. (SPLS
) following its fourth quarter earnings report and the upcoming Office Max/Office Depot merger.
The analysts said that they were reducing estimates through 2014 on Staples, citing potential competition from Office Max/Office Depot and future uncertainty. The analysts maintain a $13 price target on the company, suggesting a 5% upside to Wednesday’s closing price of $12.34.
Staples shares were up 11 cents, or +0.88%, during Thursday morning trading. The stock is down -19.86% over the past twelve months.
The Bottom Line
Shares of Staples (SPLS) have a dividend yield of 3.86% based on Thursday’s intraday trading price of $12.45 and the company’s annualized dividend payout of 48 cents per share.
Staples, Inc. (SPLS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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