ODP (NASDAQ:ODP) Sets New 52-Week Low on Disappointing Earnings

The ODP Co. (NASDAQ:ODP) shares reached a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $26.38 and last traded at $27.63, with a volume of 121463 shares trading hands. The stock had previously closed at $37.93.

The specialty retailer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.76 billion. ODP had a return on equity of 16.67% and a net margin of 1.08%. ODP’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 EPS.

Institutional Investors Weigh In On ODP

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of ODP by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock valued at $211,273,000 after purchasing an additional 16,584 shares in the last quarter. Greenlight Capital Inc. boosted its stake in ODP by 8.3% during the fourth quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock worth $98,418,000 after buying an additional 133,750 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in ODP by 15.7% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock worth $67,989,000 after buying an additional 164,020 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ODP by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,454 shares of the specialty retailer’s stock worth $21,814,000 after buying an additional 2,228 shares during the period. Finally, Norges Bank purchased a new position in ODP during the fourth quarter worth $21,070,000. Institutional investors own 99.56% of the company’s stock.

ODP Price Performance

The company has a quick ratio of 0.49, a current ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm’s 50 day simple moving average is $39.60 and its 200 day simple moving average is $46.40. The company has a market capitalization of $991.42 million, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.45 and a beta of 1.59.

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.