ODP (NASDAQ:ODP) Posts Earnings Results

ODP (NASDAQ:ODP) announced its quarterly earnings data on Wednesday. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89), Zacks reports. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. ODP updated its FY 2024 guidance to 3.100-3.800 EPS.

ODP Stock Up 0.8 %

Shares of NASDAQ ODP traded up $0.22 during trading hours on Friday, hitting $27.95. The company had a trading volume of 494,613 shares, compared to its average volume of 527,391. The firm’s 50 day moving average is $29.83 and its 200-day moving average is $35.80. ODP has a 1-year low of $23.69 and a 1-year high of $58.98. The stock has a market capitalization of $938.56 million, a P/E ratio of -30.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The company has a quick ratio of 0.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ODP. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group lowered their price objective on shares of ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday.

ODP Company Profile

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates through four divisions: ODP Business Solutions, Office Depot, Veyer, and Varis.