Brokerages expect that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will announce earnings of $1.97 per share for the current quarter, Zacks reports. Three analysts have made estimates for Old Dominion Freight Line’s earnings, with the highest EPS estimate coming in at $2.08 and the lowest estimate coming in at $1.86. Old Dominion Freight Line reported earnings of $1.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 57.6%. The business is expected to report its next quarterly earnings results on Thursday, July 29th.
On average, analysts expect that Old Dominion Freight Line will report full year earnings of $7.57 per share for the current year, with EPS estimates ranging from $7.24 to $8.61. For the next year, analysts forecast that the business will post earnings of $8.61 per share, with EPS estimates ranging from $8.10 to $9.99. Zacks’ EPS averages are an average based on a survey of research analysts that cover Old Dominion Freight Line.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, April 22nd. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.12. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Old Dominion Freight Line had a return on equity of 20.47% and a net margin of 15.87%. Old Dominion Freight Line’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 earnings per share.
A number of research analysts have weighed in on ODFL shares. Vertical Research initiated coverage on Old Dominion Freight Line in a research note on Friday, March 26th. They set a “hold” rating and a $220.00 price target on the stock. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating and set a $291.00 target price for the company in a report on Tuesday, April 27th. Evercore ISI reiterated a “buy” rating on shares of Old Dominion Freight Line in a report on Sunday, April 25th. Smith Barney Citigroup raised their price target on shares of Old Dominion Freight Line from $200.00 to $225.00 in a report on Thursday, January 14th. Finally, Morgan Stanley increased their price target on Old Dominion Freight Line from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, April 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $234.29.
Several hedge funds have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC bought a new position in Old Dominion Freight Line in the 1st quarter worth $28,000. Northwest Investment Counselors LLC bought a new position in shares of Old Dominion Freight Line in the first quarter worth about $35,000. NEXT Financial Group Inc grew its position in shares of Old Dominion Freight Line by 216.7% during the fourth quarter. NEXT Financial Group Inc now owns 152 shares of the transportation company’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. Lenox Wealth Advisors LLC raised its stake in Old Dominion Freight Line by 96.2% during the 4th quarter. Lenox Wealth Advisors LLC now owns 153 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 75 shares during the period. Finally, GoalVest Advisory LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.60% of the company’s stock.
Old Dominion Freight Line stock traded up $3.08 during midday trading on Tuesday, reaching $264.75. 553,427 shares of the company were exchanged, compared to its average volume of 690,068. The firm’s 50-day simple moving average is $244.33 and its 200-day simple moving average is $214.57. Old Dominion Freight Line has a 1 year low of $144.41 and a 1 year high of $265.61. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 1.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.53 and a current ratio of 2.53.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Wednesday, March 3rd were given a $0.20 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, March 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 15.66%.
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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