$1.11 Earnings Per Share Expected for Old Dominion Freight Line (ODFL) This Quarter

Wall Street analysts predict that Old Dominion Freight Line (NASDAQ:ODFL) will post earnings per share of $1.11 for the current quarter, Zacks reports. Six analysts have provided estimates for Old Dominion Freight Line’s earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.19. Old Dominion Freight Line reported earnings per share of $0.83 during the same quarter last year, which suggests a positive year-over-year growth rate of 33.7%. The firm is expected to report its next earnings report before the market opens on Thursday, February 8th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year earnings of $4.34 per share for the current fiscal year, with EPS estimates ranging from $4.29 to $4.42. For the next financial year, analysts forecast that the business will report earnings of $5.57 per share, with EPS estimates ranging from $5.00 to $6.20. Zacks’ EPS 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 released its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The business had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS.

ODFL has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Tuesday, October 3rd. Morgan Stanley increased their target price on shares of Old Dominion Freight Line from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, October 5th. Robert W. Baird reissued a “hold” rating and set a $113.00 target price on shares of Old Dominion Freight Line in a research report on Friday, October 6th. Bank of America downgraded shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued an “outperform” rating and set a $119.00 target price (up previously from $110.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $116.92.

Old Dominion Freight Line (NASDAQ:ODFL) traded up $0.13 during trading hours on Friday, reaching $149.23. 488,643 shares of the company’s stock were exchanged, compared to its average volume of 594,794. The firm has a market cap of $12,290.00, a P/E ratio of 36.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.44 and a quick ratio of 1.44. Old Dominion Freight Line has a twelve month low of $80.56 and a twelve month high of $150.00.

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Old Dominion Freight Line by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock worth $534,000 after buying an additional 49 shares during the period. D.A. Davidson & CO. grew its position in shares of Old Dominion Freight Line by 4.3% during the 2nd quarter. D.A. Davidson & CO. now owns 4,738 shares of the transportation company’s stock worth $451,000 after buying an additional 194 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Old Dominion Freight Line by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 33,124 shares of the transportation company’s stock worth $3,154,000 after buying an additional 304 shares during the period. Mesirow Financial Investment Management Equity Management grew its position in shares of Old Dominion Freight Line by 2.7% during the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 15,995 shares of the transportation company’s stock worth $1,761,000 after buying an additional 425 shares during the period. Finally, Waverton Investment Management Ltd grew its position in shares of Old Dominion Freight Line by 3.7% during the 4th quarter. Waverton Investment Management Ltd now owns 12,416 shares of the transportation company’s stock worth $1,633,000 after buying an additional 447 shares during the period. 72.40% of the stock is owned by institutional investors.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

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