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Office Depot , Inc. (NASDAQ:ODP) stock has reached a new 52-week low, trading at $17.54, as investors respond to the company’s challenging year. With a market capitalization of $578 million and according to InvestingPro analysis, the company appears undervalued despite its recent struggles. The office supplies retailer has seen its stock price significantly retreat from higher levels, marking a stark contrast to its performance over the past year. The 1-year change data paints a grim picture for Office Depot, with the stock value plummeting by -63.78%, while revenue declined by -11.67% in the last twelve months. Analyst targets range from $28 to $61, suggesting potential upside, though InvestingPro data shows the company maintains a "Fair" financial health score despite these challenges. This latest price level underscores the hurdles Office Depot faces as it strives to adapt to a rapidly evolving market landscape. Discover comprehensive analysis and 8 additional key insights about ODP through the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, The ODP Corporation reported fourth-quarter earnings that did not meet analyst expectations, with sales declining amid challenging economic conditions. The company posted adjusted earnings per share of $0.66, falling short of the analyst consensus of $1.07. Revenue decreased by 10% year-over-year to $1.62 billion, which was below the estimated $1.69 billion. The decline in revenue was primarily attributed to lower sales in its Office Depot retail division, which experienced a 13% drop due to 47 fewer stores in operation and reduced retail and online traffic. The ODP Business Solutions division also saw a 9% decrease in sales, influenced by macroeconomic factors affecting business customer spending. For the full year 2024, ODP reported adjusted earnings per share of $3.30 on revenue of $7.0 billion, a decline from $6.61 and $7.8 billion, respectively, in 2023. In response to these challenges, the company announced a new "Optimize for Growth" plan aimed at accelerating B2B revenue growth and reducing retail exposure. This strategic plan involves realigning the organization, refining product assortments, and reallocating capital to prioritize B2B opportunities.
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