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

ODP (NASDAQ:ODP) issued its quarterly earnings data 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. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company earned $1.88 earnings per share. The company’s revenue for the quarter 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 on Friday, hitting $27.95. 494,613 shares of the company’s stock were exchanged, compared to its average volume of 527,391. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.92. The firm’s 50-day moving average is $29.83 and its 200 day moving average is $35.80. The company has a market capitalization of $938.56 million, a PE ratio of -30.71, a P/E/G ratio of 0.57 and a beta of 1.48. ODP has a 1-year low of $23.69 and a 1-year high of $58.98.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ODP shares. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group dropped their price objective 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 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.