Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Expected to Post Quarterly Sales of $1.23 Billion

Brokerages expect Old Dominion Freight Line, Inc. (NASDAQ:ODFL) to announce sales of $1.23 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Old Dominion Freight Line’s earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.25 billion. Old Dominion Freight Line posted sales of $896.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 37.2%. The firm is scheduled to announce its next earnings report on Thursday, July 29th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year sales of $4.89 billion for the current financial year, with estimates ranging from $4.74 billion to $5.06 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.34 billion, with estimates ranging from $5.10 billion to $5.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, April 22nd. The transportation company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.12. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Old Dominion Freight Line had a return on equity of 23.32% and a net margin of 17.79%. Old Dominion Freight Line’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share.

Several equities analysts have recently issued reports on the stock. Argus boosted their price target on shares of Old Dominion Freight Line from $230.00 to $285.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Credit Suisse Group raised their price target on shares of Old Dominion Freight Line from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, March 3rd. Morgan Stanley increased their price objective on Old Dominion Freight Line from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, April 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Old Dominion Freight Line from $224.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday, April 29th. Finally, Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating and set a $291.00 price target on the stock in a report on Tuesday, April 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $234.88.

A number of institutional investors have recently bought and sold shares of the business. Holderness Investments Co. lifted its position in shares of Old Dominion Freight Line by 2.9% during the 1st quarter. Holderness Investments Co. now owns 1,362 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 38 shares during the last quarter. Delta Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 1.9% during the first quarter. Delta Capital Management LLC now owns 2,157 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 40 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 18.0% during the first quarter. Penserra Capital Management LLC now owns 262 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 40 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 8.9% in the 1st quarter. Jacobi Capital Management LLC now owns 504 shares of the transportation company’s stock valued at $121,000 after purchasing an additional 41 shares during the period. Finally, Signaturefd LLC increased its stake in Old Dominion Freight Line by 5.6% in the 4th quarter. Signaturefd LLC now owns 950 shares of the transportation company’s stock worth $185,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 70.04% of the company’s stock.

ODFL traded down $1.36 during trading on Friday, reaching $248.41. 692,622 shares of the company were exchanged, compared to its average volume of 701,879. Old Dominion Freight Line has a 52 week low of $153.57 and a 52 week high of $276.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.38. The business’s 50 day moving average price is $257.45. The firm has a market capitalization of $28.81 billion, a PE ratio of 39.61, a P/E/G ratio of 1.47 and a beta of 1.02.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 16th. Investors of record on Wednesday, June 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, June 1st. Old Dominion Freight Line’s payout ratio is 14.08%.

Old Dominion Freight Line Company Profile

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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