ODP (NASDAQ:ODP) Updates FY 2024 Earnings Guidance

ODP (NASDAQ:ODP) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.100-3.800 for the period, compared to the consensus earnings per share estimate of 4.270. The company issued revenue guidance of $7.0 billion-$7.0 billion, compared to the consensus revenue estimate of $7.1 billion.

Analyst Upgrades and Downgrades

Several equities 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 decreased their target price on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday.

ODP Stock Performance

ODP stock traded up $0.37 during mid-day trading on Friday, hitting $28.10. 106,024 shares of the company’s stock traded hands, compared to its average volume of 462,663. The firm has a 50 day simple moving average of $29.89 and a two-hundred day simple moving average of $35.95. ODP has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The stock has a market cap of $943.63 million, a price-to-earnings ratio of -30.88, a P/E/G ratio of 0.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.43.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, research analysts expect that ODP will post 4.29 EPS for the current fiscal year.

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.