ODP (NASDAQ:ODP - Get Free Report) issued its earnings results on Wednesday. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89), Zacks reports. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. ODP's revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. ODP updated its FY 2024 guidance to 3.100-3.800 EPS.
ODP Price Performance
Shares of NASDAQ:ODP traded up $0.22 during midday trading on Friday, reaching $27.95. The company's stock had a trading volume of 494,613 shares, compared to its average volume of 527,391. The business's fifty day simple moving average is $29.83 and its 200-day simple moving average is $35.80. The company has a market capitalization of $938.56 million, a P/E ratio of -30.71, a P/E/G ratio of 0.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.43. ODP has a fifty-two week low of $23.69 and a fifty-two week high of $58.98.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ODP. UBS Group lowered 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. StockNews.com raised shares of ODP from a "hold" rating to a "buy" rating in a report on Thursday.
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About ODP
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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.
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