ODP (NASDAQ:ODP - Get Free Report) 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.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ODP. StockNews.com downgraded shares of ODP from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. UBS Group cut their price target on shares of ODP from $53.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, August 8th.
View Our Latest Stock Report on ODP
ODP Stock Down 11.4 %
Shares of ODP stock traded down $3.54 during trading on Wednesday, hitting $27.57. 1,796,297 shares of the stock were exchanged, compared to its average volume of 462,902. The stock has a market cap of $925.80 million, a price-to-earnings ratio of -32.44, a price-to-earnings-growth ratio of 0.52 and a beta of 1.48. The firm's 50-day moving average price is $29.98 and its 200 day moving average price is $36.06. ODP has a 12-month low of $23.69 and a 12-month high of $58.98. 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 - Get Free Report) 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). ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period last year, the firm earned $0.99 earnings per share. ODP's revenue was down 10.0% on a year-over-year basis. As a group, analysts forecast that ODP will post 4.29 earnings per share for the current fiscal year.
Insider Activity
In other ODP news, Director Wendy Lee Schoppert bought 3,875 shares of ODP stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $25.77 per share, with a total value of $99,858.75. Following the completion of the acquisition, the director now owns 3,875 shares of the company's stock, valued at approximately $99,858.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company's stock.
ODP Company Profile
(
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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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