BidaskClub Lowers Essendant (NASDAQ:ESND) to Sell

BidaskClub downgraded shares of Essendant (NASDAQ:ESND) from a hold rating to a sell rating in a research note released on Friday, September 14th.

Separately, TheStreet raised shares of Essendant from a d+ rating to a c rating in a research note on Friday, July 27th.

ESND stock remained flat at $$12.71 during trading on Friday. 370,793 shares of the company were exchanged, compared to its average volume of 401,125. Essendant has a 12 month low of $7.20 and a 12 month high of $17.08. The company has a market capitalization of $482.60 million, a P/E ratio of 71.22 and a beta of 1.24. The company has a current ratio of 2.03, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18.

Essendant (NASDAQ:ESND) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. Essendant had a negative net margin of 2.70% and a positive return on equity of 1.51%. The company had revenue of $1.25 billion during the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Thursday, September 13th.

Several hedge funds and other institutional investors have recently made changes to their positions in ESND. Piedmont Investment Advisors LLC bought a new position in shares of Essendant during the second quarter valued at approximately $116,000. Alambic Investment Management L.P. bought a new position in shares of Essendant during the first quarter valued at approximately $118,000. Stevens Capital Management LP bought a new position in shares of Essendant during the first quarter valued at approximately $131,000. Harvest Management LLC bought a new position in shares of Essendant during the second quarter valued at approximately $132,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Essendant during the first quarter valued at approximately $140,000. 83.57% of the stock is owned by institutional investors and hedge funds.

Essendant Company Profile

Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.

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