ODP (ODP) Set to Announce Quarterly Earnings on Wednesday

ODP (NASDAQ:ODP) will issue its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $1.64 per share for the quarter. ODP has set its FY24 guidance at 5.60-5.80 EPS and its FY 2024 guidance at 5.600-5.800 EPS.Parties interested in participating in the company’s conference call can do so using this link.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.76 by $0.16. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. ODP had a net margin of 1.77% and a return on equity of 19.45%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, analysts expect ODP to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ODP Stock Performance

Shares of NASDAQ ODP opened at $51.74 on Monday. ODP has a 12-month low of $39.36 and a 12-month high of $58.98. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.65 and a beta of 1.68. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $51.62 and a 200 day moving average of $50.63.

ODP declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 48.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TheStreet downgraded ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Activity at ODP

In other news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00. Following the completion of the transaction, the chief financial officer now owns 96,104 shares of the company’s stock, valued at $5,285,720. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is owned by corporate insiders.

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.