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Office Depot (ODP) Flat As Market Sinks: What You Should Know
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In the latest trading session, Office Depot (ODP - Free Report) closed at $3.37, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 0.35%. At the same time, the Dow lost 0.4%, and the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the office supply retailer had gained 15.41% over the past month, outpacing the Retail-Wholesale sector's gain of 2.56% and the S&P 500's gain of 4.48% in that time.
Wall Street will be looking for positivity from ODP as it approaches its next earnings report date. This is expected to be February 27, 2019. The company is expected to report EPS of $0.08, unchanged 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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ODP is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, ODP is holding a Forward P/E ratio of 8.36. This represents a discount compared to its industry's average Forward P/E of 10.21.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% 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.
To follow ODP in the coming trading sessions, be sure to utilize Zacks.com.
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Office Depot (ODP) Flat As Market Sinks: What You Should Know
In the latest trading session, Office Depot (ODP - Free Report) closed at $3.37, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 0.35%. At the same time, the Dow lost 0.4%, and the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the office supply retailer had gained 15.41% over the past month, outpacing the Retail-Wholesale sector's gain of 2.56% and the S&P 500's gain of 4.48% in that time.
Wall Street will be looking for positivity from ODP as it approaches its next earnings report date. This is expected to be February 27, 2019. The company is expected to report EPS of $0.08, unchanged 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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ODP is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, ODP is holding a Forward P/E ratio of 8.36. This represents a discount compared to its industry's average Forward P/E of 10.21.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% 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.
To follow ODP in the coming trading sessions, be sure to utilize Zacks.com.