Sidoti Csr Comments on ODP’s FY2024 Earnings (NASDAQ:ODP)

The ODP Co. (NASDAQ:ODP) – Analysts at Sidoti Csr cut their FY2024 EPS estimates for ODP in a research report issued on Thursday, November 7th. Sidoti Csr analyst G. Burns now anticipates that the specialty retailer will post earnings of $3.26 per share for the year, down from their prior estimate of $4.30. The consensus estimate for ODP’s current full-year earnings is $3.26 per share. Sidoti Csr also issued estimates for ODP’s Q1 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.53 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $4.39 EPS.

A number of other equities research analysts have also recently issued reports on ODP. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group cut their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th.

ODP Stock Down 5.9 %

NASDAQ:ODP opened at $25.27 on Monday. The firm has a market capitalization of $761.08 million, a price-to-earnings ratio of -27.77, a price-to-earnings-growth ratio of 0.58 and a beta of 1.48. The company has a quick ratio of 0.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. ODP has a twelve month low of $23.69 and a twelve month high of $58.98. The stock’s 50 day moving average price is $29.66 and its two-hundred day moving average price is $35.21.

ODP (NASDAQ:ODP) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year.

Hedge Funds Weigh In On ODP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODP. ProShare Advisors LLC lifted its holdings in shares of ODP by 5.7% during the 1st quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock worth $343,000 after acquiring an additional 348 shares during the period. Texas Permanent School Fund Corp lifted its stake in ODP by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer’s stock worth $1,544,000 after purchasing an additional 375 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of ODP by 2.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock valued at $569,000 after purchasing an additional 394 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of ODP by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer’s stock valued at $622,000 after purchasing an additional 399 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of ODP by 81.3% during the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after buying an additional 422 shares in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

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.