ODP (NASDAQ:ODP) Issues FY 2024 Earnings Guidance

ODP (NASDAQ:ODP) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.100-3.800 for the period, compared to the consensus EPS 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.

ODP Trading Up 1.3 %

ODP stock traded up $0.37 during trading hours on Friday, reaching $28.10. 106,024 shares of the company’s stock traded hands, compared to its average volume of 462,663. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.90. ODP has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The firm has a market capitalization of $943.63 million, a price-to-earnings ratio of -30.88, a PEG ratio of 0.52 and a beta of 1.48. The firm’s 50 day moving average is $29.89 and its 200-day moving average is $35.95.

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

Wall Street Analysts Forecast Growth

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