Zacks: Analysts Anticipate Old Dominion Freight Line (ODFL) Will Announce Earnings of $1.29 Per Share

Equities research analysts expect that Old Dominion Freight Line (NASDAQ:ODFL) will report earnings of $1.29 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Old Dominion Freight Line’s earnings, with estimates ranging from $1.19 to $1.34. Old Dominion Freight Line posted earnings of $0.80 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 61.3%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that Old Dominion Freight Line will report full year earnings of $6.28 per share for the current financial year, with EPS estimates ranging from $6.20 to $6.40. For the next fiscal year, analysts anticipate that the business will post earnings of $7.10 per share, with EPS estimates ranging from $6.85 to $7.35. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Old Dominion Freight Line.

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Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, February 8th. The transportation company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Old Dominion Freight Line had a net margin of 13.81% and a return on equity of 17.37%. The business had revenue of $891.12 million for the quarter, compared to the consensus estimate of $879.00 million. During the same period in the previous year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis.

ODFL has been the topic of several research reports. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Thursday. Robert W. Baird reissued a “hold” rating and issued a $145.00 target price on shares of Old Dominion Freight Line in a research report on Tuesday. Goldman Sachs initiated coverage on shares of Old Dominion Freight Line in a research report on Tuesday. They issued a “neutral” rating and a $144.00 target price for the company. ValuEngine raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. Finally, Bank of America boosted their target price on shares of Old Dominion Freight Line from $127.00 to $133.00 and gave the stock an “underperform” rating in a research report on Thursday, March 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $138.00.

A number of institutional investors have recently modified their holdings of the business. Fieldpoint Private Securities LLC acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $100,000. Salem Investment Counselors Inc. raised its stake in shares of Old Dominion Freight Line by 3,281.3% in the 3rd quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,050 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $132,000. Captrust Financial Advisors acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $138,000. Finally, Telemus Capital LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $207,000. 76.39% of the stock is owned by hedge funds and other institutional investors.

Shares of ODFL stock traded down $1.34 during trading hours on Friday, reaching $144.05. 346,938 shares of the stock traded hands, compared to its average volume of 567,653. Old Dominion Freight Line has a 1-year low of $80.82 and a 1-year high of $152.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market capitalization of $11,976.42, a P/E ratio of 33.04, a P/E/G ratio of 1.02 and a beta of 1.18.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th were issued a dividend of $0.13 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 11.93%.

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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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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