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 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.

ODP Stock Down 11.4 %

Shares of ODP stock traded down $3.54 during mid-day trading on Wednesday, reaching $27.57. 1,796,297 shares of the company’s stock traded hands, compared to its average volume of 462,902. The company has a quick ratio of 0.43, a current ratio of 0.90 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $29.98 and its 200-day moving average price is $36.06. The company has a market cap of $925.80 million, a P/E ratio of -32.44, a P/E/G ratio of 0.52 and a beta of 1.48. ODP has a 12 month low of $23.69 and a 12 month high of $58.98.

ODP (NASDAQ:ODP) last announced its quarterly earnings data 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 positive return on equity of 15.93% and a negative net margin of 0.34%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $0.99 EPS. ODP’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, equities analysts expect that ODP will post 4.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ODP. UBS Group cut their price target on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Insider Buying and Selling at ODP

In other news, Director Wendy Lee Schoppert acquired 3,875 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $25.77 per share, for a total transaction of $99,858.75. Following the acquisition, the director now directly owns 3,875 shares in the company, valued at approximately $99,858.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by company insiders.

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.