ODP (NASDAQ:ODP) Issues Quarterly Earnings Results

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

ODP Stock Performance

ODP traded up $0.22 on Friday, hitting $27.95. The company’s stock had a trading volume of 494,613 shares, compared to its average volume of 527,391. The company’s 50 day simple moving average is $29.83 and its 200-day simple moving average is $35.80. The company has a quick ratio of 0.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. ODP has a 12 month low of $23.69 and a 12 month high of $58.98. The firm has a market cap 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ODP shares. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group decreased their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday.

About ODP

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.