ODP (NASDAQ:ODP) Issues Quarterly Earnings Results, Misses Estimates By $0.89 EPS

ODP (NASDAQ:ODP) announced 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 business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. ODP’s revenue was down 11.3% compared to the same quarter last year. During the same quarter 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 Trading Up 0.8 %

ODP stock traded up $0.22 during mid-day trading on Friday, reaching $27.95. 494,613 shares of the company traded hands, compared to its average volume of 527,391. The firm’s 50 day moving average price is $29.83 and its 200 day moving average price is $35.80. ODP has a 52-week low of $23.69 and a 52-week high of $58.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.43. The firm has a market capitalization of $938.56 million, a price-to-earnings ratio of -30.71, a P/E/G ratio of 0.57 and a beta of 1.48.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. 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 target on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research 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.