The ODP Co. (NASDAQ:ODP – Free Report) – Equities research analysts at B. Riley boosted their Q3 2023 EPS estimates for ODP in a research note issued on Thursday, August 10th. B. Riley analyst J. Lick now expects that the specialty retailer will post earnings per share of $1.70 for the quarter, up from their prior estimate of $1.68. B. Riley currently has a “Buy” rating and a $65.00 price objective on the stock. The consensus estimate for ODP’s current full-year earnings is $5.15 per share. B. Riley also issued estimates for ODP’s Q4 2023 earnings at $0.79 EPS, Q3 2024 earnings at $2.01 EPS, Q1 2025 earnings at $2.46 EPS and FY2025 earnings at $7.59 EPS.
ODP (NASDAQ:ODP – Get Free Report) last posted its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. ODP had a net margin of 2.29% and a return on equity of 17.82%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year.
Get Our Latest Analysis on ODP
ODP Stock Performance
NASDAQ ODP opened at $48.10 on Friday. ODP has a 52-week low of $34.55 and a 52-week high of $53.59. The company has a 50-day simple moving average of $46.62 and a 200 day simple moving average of $46.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.98. The company has a market capitalization of $1.86 billion, a PE ratio of 11.21 and a beta of 1.82.
Institutional Trading of ODP
Hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in ODP during the 4th quarter valued at about $28,647,000. Pacer Advisors Inc. purchased a new stake in shares of ODP during the 2nd quarter valued at about $26,728,000. EVR Research LP purchased a new stake in shares of ODP during the 1st quarter valued at about $9,166,000. SCW Capital Management LP purchased a new stake in shares of ODP during the 1st quarter valued at about $7,217,000. Finally, Dimensional Fund Advisors LP increased its position in shares of ODP by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,407,895 shares of the specialty retailer’s stock valued at $153,287,000 after purchasing an additional 138,182 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Gerry P. Smith sold 28,016 shares of ODP stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $50.06, for a total value of $1,402,480.96. Following the transaction, the chief executive officer now directly owns 865,897 shares of the company’s stock, valued at $43,346,803.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ODP news, EVP John Gannfors sold 36,965 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $45.17, for a total transaction of $1,669,709.05. Following the transaction, the executive vice president now directly owns 66,767 shares of the company’s stock, valued at approximately $3,015,865.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerry P. Smith sold 28,016 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $50.06, for a total transaction of $1,402,480.96. Following the transaction, the chief executive officer now directly owns 865,897 shares in the company, valued at $43,346,803.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,579 shares of company stock valued at $4,952,897. 3.10% of the stock is currently owned by corporate insiders.
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.
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