Analysts Set Essendant Inc. (ESND) Target Price at $16.50

Essendant Inc. (NASDAQ:ESND) has been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

ESND has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Essendant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Essendant from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. TheStreet downgraded shares of Essendant from a “c-” rating to a “d+” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of Essendant from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st.

Shares of Essendant (NASDAQ:ESND) traded down $0.01 during mid-day trading on Wednesday, reaching $9.17. 196,787 shares of the company’s stock were exchanged, compared to its average volume of 270,749. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02. The company has a market cap of $344.90, a P/E ratio of 16.68 and a beta of 1.21. Essendant has a twelve month low of $8.79 and a twelve month high of $22.52.

Essendant (NASDAQ:ESND) last issued its earnings results on Wednesday, October 25th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Essendant had a negative return on equity of 59.56% and a negative net margin of 6.26%. Essendant’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.11%. Essendant’s dividend payout ratio is presently -7.67%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in Essendant by 6.1% during the second quarter. California Public Employees Retirement System now owns 188,700 shares of the company’s stock valued at $2,798,000 after acquiring an additional 10,900 shares during the last quarter. Numeric Investors LLC purchased a new stake in Essendant during the second quarter valued at approximately $328,000. Parametric Portfolio Associates LLC lifted its position in Essendant by 41.5% during the second quarter. Parametric Portfolio Associates LLC now owns 273,750 shares of the company’s stock valued at $4,060,000 after acquiring an additional 80,294 shares during the last quarter. Vanguard Group Inc. lifted its position in Essendant by 3.3% during the second quarter. Vanguard Group Inc. now owns 3,591,083 shares of the company’s stock valued at $53,256,000 after acquiring an additional 115,071 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in Essendant by 435.3% during the second quarter. Voya Investment Management LLC now owns 93,683 shares of the company’s stock valued at $1,389,000 after acquiring an additional 76,181 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Week Herald and is the sole property of of Week Herald. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://weekherald.com/2017/12/04/analysts-set-essendant-inc-esnd-target-price-at-16-50.html.

About Essendant

Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.

Receive News & Ratings for Essendant Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essendant Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply