Zacks: Analysts Expect Old Dominion Freight Line (ODFL) Will Post Quarterly Sales of $1.06 Billion

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Equities research analysts forecast that Old Dominion Freight Line (NASDAQ:ODFL) will report sales of $1.06 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Old Dominion Freight Line’s earnings, with the lowest sales estimate coming in at $1.04 billion and the highest estimate coming in at $1.07 billion. Old Dominion Freight Line posted sales of $872.99 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.4%. The business is expected to report its next earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Old Dominion Freight Line will report full year sales of $4.04 billion for the current year, with estimates ranging from $4.00 billion to $4.07 billion. For the next financial year, analysts expect that the company will report sales of $4.39 billion, with estimates ranging from $4.30 billion to $4.53 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 posted its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.17. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share.

Several equities research analysts recently weighed in on ODFL shares. Bank of America upped their price objective on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a report on Thursday, August 30th. ValuEngine raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. BidaskClub downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Buckingham Research upped their price target on shares of Old Dominion Freight Line from $155.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $146.92.

ODFL stock traded up $0.26 during trading on Friday, hitting $136.57. The company had a trading volume of 740,653 shares, compared to its average volume of 612,473. The company has a market capitalization of $13.22 billion, a P/E ratio of 31.32, a PEG ratio of 0.92 and a beta of 1.18. Old Dominion Freight Line has a fifty-two week low of $106.20 and a fifty-two week high of $170.22. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.02.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Wednesday, September 5th. Old Dominion Freight Line’s payout ratio is 11.93%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Architects Inc acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $120,000. Signaturefd LLC raised its holdings in Old Dominion Freight Line by 2,308.6% during the 2nd quarter. Signaturefd LLC now owns 843 shares of the transportation company’s stock worth $126,000 after buying an additional 808 shares during the period. Gradient Investments LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $137,000. Qube Research & Technologies Ltd acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth about $145,000. Finally, Captrust Financial Advisors raised its holdings in Old Dominion Freight Line by 4,831.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,085 shares of the transportation company’s stock worth $162,000 after buying an additional 1,063 shares during the period. 72.45% of the stock is owned by institutional investors.

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 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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