Stone-Cold Earnings Trade Lock of the Week
Staples (NASDAQ: SPLS)
The office supplier posts earnings results for the quarter ending April 30, 2012 on Wednesday before the market opens. Wall Street is looking for a profit of 30 cents per share in the quarter. That estimate is a penny per share lower than 90 days ago.
Staples (SPLS) has matched or beaten slightly expectations in the last three quarters. Shares of Staples are down 26% in the last year. Analysts expect profit growth of 8% in the current fiscal year ending Jan. 31, 2013. At current prices, shares trade for 10 times current fiscal year estimated earnings.