Wall Street brokerages expect Old Dominion Freight Line (NASDAQ:ODFL) to announce sales of $1.07 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Old Dominion Freight Line’s earnings, with the lowest sales estimate coming in at $1.04 billion and the highest estimate coming in at $1.11 billion. Old Dominion Freight Line posted sales of $1.03 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The business is expected to report its next earnings report before the market opens on Thursday, July 25th.
On average, analysts expect that Old Dominion Freight Line will report full-year sales of $4.23 billion for the current financial year, with estimates ranging from $4.17 billion to $4.33 billion. For the next year, analysts expect that the company will post sales of $4.48 billion, with estimates ranging from $4.35 billion to $4.61 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Old Dominion Freight Line.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The business had revenue of $990.78 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business earned $1.33 EPS. Old Dominion Freight Line’s revenue for the quarter was up 7.1% compared to the same quarter last year.
ODFL has been the subject of a number of research reports. Seaport Global Securities reissued a “neutral” rating on shares of YRC Worldwide in a research note on Friday, April 5th. BidaskClub raised DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Mizuho initiated coverage on Merck & Co., Inc. in a research note on Tuesday, July 2nd. They set a “buy” rating and a $97.00 target price for the company. Bank of America set a $7.00 target price on CannTrust and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Citigroup increased their target price on Vistra Energy from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $148.45.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Old Dominion Freight Line by 4.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 18,281 shares of the transportation company’s stock valued at $2,258,000 after buying an additional 834 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Old Dominion Freight Line by 365.1% during the 1st quarter. Meeder Asset Management Inc. now owns 16,902 shares of the transportation company’s stock valued at $2,440,000 after purchasing an additional 13,268 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in Old Dominion Freight Line during the 1st quarter valued at $255,000. Dynamic Technology Lab Private Ltd acquired a new stake in Old Dominion Freight Line during the 1st quarter valued at $873,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Old Dominion Freight Line by 11.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 45,324 shares of the transportation company’s stock valued at $5,597,000 after purchasing an additional 4,831 shares during the last quarter. 71.24% of the stock is owned by institutional investors.
NASDAQ ODFL traded up $7.15 during trading hours on Friday, reaching $149.95. 486,159 shares of the company’s stock were exchanged, compared to its average volume of 490,131. The business’s 50-day moving average price is $142.01. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $170.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $11.54 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.48.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.68 annualized dividend and a dividend yield of 0.45%. Old Dominion Freight Line’s dividend payout ratio is currently 9.21%.
Old Dominion Freight Line declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 16th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the transportation company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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