ODP (ODP) Scheduled to Post Earnings on Wednesday

ODP (NASDAQ:ODP) is scheduled 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 announced its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.84 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, analysts expect ODP to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ODP Stock Up 1.6 %

ODP opened at $51.74 on Monday. The company has a fifty day moving average of $51.62 and a two-hundred day moving average of $50.63. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.65 and a beta of 1.68. 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 quick ratio of 0.54 and a current ratio of 0.99.

ODP announced that its board has approved a share buyback plan on Wednesday, February 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 48.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Diego Anthony Scaglione sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $55.00, for a total transaction of $1,375,000.00. Following the completion of the sale, the chief financial officer now directly owns 96,104 shares in the company, valued at $5,285,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TheStreet downgraded ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ODP presently has an average rating of “Moderate Buy” and an average 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.