Sidoti Csr Predicts ODP's FY2024 Earnings (NASDAQ:ODP)

The ODP Co. (NASDAQ:ODP - Free Report) - Equities research analysts at Sidoti Csr lowered their FY2024 EPS estimates for ODP in a research report issued to clients and investors on Thursday, November 7th. Sidoti Csr analyst G. Burns now expects that the specialty retailer will earn $3.26 per share for the year, down from their previous estimate of $4.30. The consensus estimate for ODP's current full-year earnings is $3.26 per share. Sidoti Csr also issued estimates for ODP's Q1 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.53 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $4.39 EPS.

Several other brokerages have also commented on ODP. UBS Group cut their price objective on ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday. StockNews.com raised shares of ODP from a "hold" rating to a "buy" rating in a research report on Thursday.

ODP Trading Down 3.9 %

ODP stock traded down $1.10 during midday trading on Monday, hitting $26.85. The stock had a trading volume of 537,907 shares, compared to its average volume of 464,790. ODP has a 12-month low of $23.69 and a 12-month high of $58.98. The firm has a market cap of $808.72 million, a PE ratio of -30.71, a price-to-earnings-growth ratio of 0.58 and a beta of 1.48. The company's 50-day moving average price is $29.83 and its 200 day moving average price is $35.57. 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 (NASDAQ:ODP - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. ODP's quarterly revenue was down 11.3% on a year-over-year basis.

Institutional Trading of ODP

Hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC raised its stake in shares of ODP by 456.7% during the third quarter. Intech Investment Management LLC now owns 47,922 shares of the specialty retailer's stock valued at $1,426,000 after acquiring an additional 39,313 shares during the last quarter. Empowered Funds LLC increased its stake in shares of ODP by 5.3% during the third quarter. Empowered Funds LLC now owns 185,427 shares of the specialty retailer's stock valued at $5,516,000 after buying an additional 9,380 shares during the period. KBC Group NV raised its holdings in shares of ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer's stock valued at $55,000 after acquiring an additional 868 shares in the last quarter. Victory Capital Management Inc. lifted its stake in ODP by 23.4% in the third quarter. Victory Capital Management Inc. now owns 63,562 shares of the specialty retailer's stock worth $1,891,000 after acquiring an additional 12,061 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in ODP by 0.3% in the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer's stock valued at $4,713,000 after acquiring an additional 459 shares in the last quarter. 99.56% of the stock is 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.