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Office Depot (ODP) Gains As Market Dips: What You Should Know
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Office Depot (ODP - Free Report) closed at $3.09 in the latest trading session, marking a +1.31% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the office supply retailer had gained 8.54% over the past month. This has outpaced the Retail-Wholesale sector's gain of 8.25% and the S&P 500's gain of 8.17% in that time.
Investors will be hoping for strength from ODP as it approaches its next earnings release. In that report, analysts expect ODP to post earnings of $0.08 per share. This would mark no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.68 billion, up 3.99% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ODP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.54% higher. ODP is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, ODP currently has a Forward P/E ratio of 7.56. For comparison, its industry has an average Forward P/E of 9.73, which means ODP is trading at a discount to the group.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Office Depot (ODP) Gains As Market Dips: What You Should Know
Office Depot (ODP - Free Report) closed at $3.09 in the latest trading session, marking a +1.31% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the office supply retailer had gained 8.54% over the past month. This has outpaced the Retail-Wholesale sector's gain of 8.25% and the S&P 500's gain of 8.17% in that time.
Investors will be hoping for strength from ODP as it approaches its next earnings release. In that report, analysts expect ODP to post earnings of $0.08 per share. This would mark no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.68 billion, up 3.99% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ODP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.54% higher. ODP is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, ODP currently has a Forward P/E ratio of 7.56. For comparison, its industry has an average Forward P/E of 9.73, which means ODP is trading at a discount to the group.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.