ODP (ODP) Scheduled to Post Quarterly Earnings on Wednesday

ODP (NASDAQ:ODP) is set to announce its earnings results 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.Investors interested in participating in the company’s conference call can do so using this link.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.16. ODP had a net margin of 1.77% and a return on equity of 19.45%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s quarterly revenue was down 14.2% on a year-over-year basis. 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 ODP stock opened at $50.91 on Wednesday. ODP has a fifty-two week low of $39.36 and a fifty-two week high of $58.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.54. The firm has a market capitalization of $1.86 billion, a P/E ratio of 15.06, a P/E/G ratio of 0.65 and a beta of 1.62. The company’s 50 day moving average price is $51.71 and its two-hundred day moving average price is $50.45.

ODP announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 48.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Diego Anthony Scaglione sold 25,000 shares of ODP stock in a transaction on Friday, March 1st. The shares were sold at an average price of $55.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ODP shares. TheStreet lowered shares of ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ODP presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.