Essendant Inc. (NASDAQ:ESND):
Essendant’s Board Declares Regular Dividend.
The company is so far trading up since yesterday’s close of $14.
The company also declared a dividend for shareholders which will be paid on Friday the 14th of July 2017. The dividend will be $0.140 per share for the quarter which is $0.56 annualized. This dividend represents a yield of $3.88. The ex-dividend date is set for Tuesday the 13th of June 2017.
Essendant Inc. (Essendant), launched on August 18, 1981, is a wholesale distributor of workplace items. The Business’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. The Company operates principally within the United States, with additional operations in Canada and Dubai, the United Arab Emirates (UAE)..
The stock last traded at $14.15 marginally under $16.02, the 50 day moving average and slightly below the 200 day moving average of $17.61. The 50 day moving average was down $-1.90 and the 200 day average was down $-3.49.
As of the latest earnings report the EPS was $-3.87 and is projected to be $1.36 for the current year with 37,499,000 shares outstanding. Analysts expect next quarter’s EPS will be $0.42 and the next full year EPS is anticipated to be $1.55.
Investors are more bearish on Essendant Inc. lately if you evaluate the increase in short interest. The firm saw a rise in short interest of 20.27% between May 31, 2017 and May 15, 2017. Short shares grew 226,650 over that period. The short-interest ratio increased to 5.1 and the percentage of shorted shares was 0.04% on May 15.
A few brokerage firms have issued ratings on Essendant Inc. recently. On April 1 the stock rating was upgraded from “Sector Weight” to “Overweight” in a report from KeyBanc.