Wall Street brokerages predict that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will announce earnings of $1.97 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Old Dominion Freight Line’s earnings, with estimates ranging from $1.86 to $2.08. Old Dominion Freight Line posted earnings of $1.25 per share in the same quarter last year, which would suggest a positive year over year growth rate of 57.6%. The business is scheduled to issue its next quarterly earnings report 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 financial year, with EPS estimates ranging from $7.24 to $8.61. For the next financial year, analysts anticipate that the business will post earnings of $8.61 per share, with EPS estimates ranging from $8.10 to $9.99. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Old Dominion Freight Line.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, April 22nd. The transportation company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.12. The business 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%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS.
A number of analysts have weighed in on the stock. KeyCorp increased their price target on shares of Old Dominion Freight Line from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Smith Barney Citigroup boosted their price target on Old Dominion Freight Line from $200.00 to $225.00 in a research note on Thursday, January 14th. Credit Suisse Group raised their price objective on Old Dominion Freight Line from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 9th. UBS Group started coverage on Old Dominion Freight Line in a research report on Tuesday, January 19th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Old Dominion Freight Line from $224.00 to $250.00 and gave the stock a “hold” rating in a research report on Thursday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $234.29.
Shares of ODFL traded up $3.08 during mid-day trading on Tuesday, hitting $264.75. The company’s stock had a trading volume of 553,427 shares, compared to its average volume of 690,068. The stock’s 50-day moving average is $244.33 and its two-hundred day moving average is $214.57. The firm has a market capitalization of $30.70 billion, a PE ratio of 49.65, a price-to-earnings-growth 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. Old Dominion Freight Line has a one year low of $144.41 and a one year high of $265.61.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.30%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 2nd. Old Dominion Freight Line’s payout ratio is currently 15.66%.
A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Roosevelt Investment Group LLC grew its stake in shares of Old Dominion Freight Line by 3.6% during the first quarter. Roosevelt Investment Group LLC now owns 158,834 shares of the transportation company’s stock valued at $38,185,000 after purchasing an additional 5,534 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Old Dominion Freight Line by 179.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 190,730 shares of the transportation company’s stock valued at $45,853,000 after buying an additional 122,364 shares during the last quarter. Oak Ridge Investments LLC increased its stake in shares of Old Dominion Freight Line by 990.3% in the 1st quarter. Oak Ridge Investments LLC now owns 55,037 shares of the transportation company’s stock valued at $13,231,000 after buying an additional 49,989 shares during the period. Hedeker Wealth LLC raised its position in shares of Old Dominion Freight Line by 0.5% during the first quarter. Hedeker Wealth LLC now owns 20,956 shares of the transportation company’s stock worth $5,038,000 after acquiring an additional 95 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at $522,000. Hedge funds and other institutional investors own 70.60% of the company’s stock.
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.
See Also: Retained Earnings
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