ODP (ODP) Set to Announce Earnings on Wednesday

ODP (NASDAQ:ODP - Get Free Report) is scheduled to release its 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 - Get Free Report) last released its earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 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 company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the business earned $0.85 EPS. The firm's 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 Price Performance

Shares of ODP traded down $0.06 during trading hours on Wednesday, reaching $50.85. 233,147 shares of the stock traded hands, compared to its average volume of 305,576. ODP has a 52-week low of $39.36 and a 52-week high of $58.98. 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 company has a market cap of $1.86 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 0.65 and a beta of 1.62. The company's 50-day moving average price is $51.68 and its two-hundred day moving average price is $50.50.

ODP declared that its board has authorized a stock buyback plan on Wednesday, February 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 48.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at ODP

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 96,104 shares in the company, valued at approximately $5,285,720. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ODP. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a report on Tuesday, March 12th. TheStreet cut shares of ODP from a "b-" rating to a "c+" rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.