ODP (NASDAQ:ODP) Posts Quarterly Earnings Results, Beats Expectations By $0.32 EPS

ODP (NASDAQ:ODP) announced its quarterly earnings results on Wednesday. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.32, Zacks reports. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.67 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS.

ODP Stock Up 0.0%

ODP traded up $0.01 on Friday, hitting $27.85. 1,543,383 shares of the company were exchanged, compared to its average volume of 704,649. The company has a market cap of $837.84 million, a PE ratio of 42.20, a PEG ratio of 0.69 and a beta of 1.43. ODP has a 12 month low of $11.85 and a 12 month high of $28.83. The stock’s fifty day moving average is $25.64 and its 200-day moving average is $20.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.94.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of ODP in a report on Wednesday, October 8th. Noble Financial cut shares of ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. Finally, UBS Group increased their target price on ODP from $19.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $28.00.

Institutional Investors Weigh In On ODP

Institutional investors and hedge funds have recently modified their holdings of the company. State of Wyoming increased its holdings in shares of ODP by 43.2% during the 2nd quarter. State of Wyoming now owns 8,390 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 2,531 shares during the last quarter. Caption Management LLC bought a new position in shares of ODP in the second quarter worth $153,000. Nomura Holdings Inc. acquired a new position in shares of ODP in the 2nd quarter valued at approximately $208,000. Sei Investments Co. bought a new stake in ODP during the second quarter worth $283,000. Finally, Rafferty Asset Management LLC lifted its position in shares of ODP by 10.6% during the 2nd quarter. Rafferty Asset Management LLC now owns 16,027 shares of the specialty retailer’s stock worth $291,000 after buying an additional 1,531 shares during the last quarter. 99.56% of the stock is owned by institutional investors.

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.