$1.09 Billion in Sales Expected for Old Dominion Freight Line (ODFL) This Quarter

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Wall Street brokerages expect Old Dominion Freight Line (NASDAQ:ODFL) to report sales of $1.09 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Old Dominion Freight Line’s earnings. The lowest sales estimate is $1.08 billion and the highest is $1.11 billion. Old Dominion Freight Line posted sales of $1.03 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The business is scheduled to issue its next earnings report on Thursday, July 25th.

On average, analysts expect that Old Dominion Freight Line will report full year sales of $4.29 billion for the current fiscal year, with estimates ranging from $4.24 billion to $4.33 billion. For the next financial year, analysts anticipate that the business will report sales of $4.56 billion, with estimates ranging from $4.43 billion to $4.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, April 25th. The transportation company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.58 by $0.06. Old Dominion Freight Line had a net margin of 15.32% and a return on equity of 23.87%. The firm had revenue of $990.78 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. Old Dominion Freight Line’s quarterly revenue was up 7.1% on a year-over-year basis.

Several analysts have recently issued reports on ODFL shares. Zacks Investment Research cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. KeyCorp boosted their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 8th. Citigroup boosted their price objective on shares of Old Dominion Freight Line from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Cowen lifted their target price on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a report on Thursday, February 7th. Finally, Bank of America lowered shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and lifted their target price for the company from $154.00 to $158.00 in a report on Tuesday, February 26th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $149.20.

In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $151.84, for a total value of $296,239.84. Following the transaction, the senior vice president now owns 6,027 shares in the company, valued at approximately $915,139.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $29,000. Oregon Public Employees Retirement Fund increased its stake in shares of Old Dominion Freight Line by 9,888.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock worth $34,000 after purchasing an additional 4,140,856 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $36,000. JOYN Advisors Inc. increased its stake in shares of Old Dominion Freight Line by 58.2% during the 4th quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock worth $37,000 after purchasing an additional 110 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Old Dominion Freight Line by 42.5% during the 1st quarter. CWM LLC now owns 258 shares of the transportation company’s stock worth $37,000 after purchasing an additional 77 shares during the last quarter. 72.85% of the stock is owned by institutional investors and hedge funds.

NASDAQ ODFL traded up $3.24 on Friday, hitting $153.29. The stock had a trading volume of 341,734 shares, compared to its average volume of 506,846. Old Dominion Freight Line has a one year low of $115.00 and a one year high of $170.22. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 0.02. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.18 and a beta of 1.43.

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

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