Noble Financial Brokers Decrease Earnings Estimates for ODP

The ODP Co. (NASDAQ:ODP - Free Report) - Noble Financial lowered their Q4 2024 earnings per share estimates for shares of ODP in a research report issued on Thursday, November 7th. Noble Financial analyst J. Gomes now forecasts that the specialty retailer will earn $0.68 per share for the quarter, down from their prior estimate of $1.30. The consensus estimate for ODP's current full-year earnings is $3.26 per share. Noble Financial also issued estimates for ODP's Q1 2025 earnings at $1.35 EPS, Q3 2025 earnings at $1.10 EPS, Q4 2025 earnings at $1.00 EPS and FY2025 earnings at $4.32 EPS.

ODP (NASDAQ:ODP - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.88 earnings per share. The company's revenue for the quarter was down 11.3% on a year-over-year basis.

ODP has been the topic of several other reports. StockNews.com upgraded ODP from a "hold" rating to a "buy" rating in a research report on Thursday. UBS Group reduced their price target on ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday.

ODP Price Performance

ODP stock traded down $1.10 during midday trading on Monday, reaching $26.85. 537,922 shares of the company's stock traded hands, compared to its average volume of 464,790. The company has a market cap of $808.72 million, a price-to-earnings ratio of -30.71, a PEG ratio of 0.58 and a beta of 1.48. The company has a quick ratio of 0.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $29.83 and a two-hundred day simple moving average of $35.57. ODP has a 1-year low of $23.69 and a 1-year high of $58.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ODP. ProShare Advisors LLC lifted its holdings in ODP by 5.7% during the first quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer's stock worth $343,000 after acquiring an additional 348 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in ODP by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer's stock worth $1,544,000 after acquiring an additional 375 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in ODP by 2.1% during the third quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer's stock worth $569,000 after acquiring an additional 394 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in ODP by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer's stock worth $622,000 after acquiring an additional 399 shares in the last quarter. Finally, CWM LLC lifted its holdings in ODP by 81.3% during the second quarter. CWM LLC now owns 941 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 422 shares in the last quarter. 99.56% of the stock is currently owned by institutional investors.

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.