$1.60 EPS Expected for Old Dominion Freight Line, Inc. (NASDAQ:ODFL) This Quarter


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Analysts forecast that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will announce earnings per share of $1.60 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Old Dominion Freight Line’s earnings. The highest EPS estimate is $1.63 and the lowest is $1.58. Old Dominion Freight Line posted earnings of $1.11 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 44.1%. The firm is expected to report its next quarterly earnings report on Thursday, April 22nd.

On average, analysts expect that Old Dominion Freight Line will report full year earnings of $7.18 per share for the current fiscal year, with EPS estimates ranging from $6.90 to $7.63. For the next fiscal year, analysts anticipate that the company will post earnings of $8.15 per share, with EPS estimates ranging from $7.78 to $8.73. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, February 4th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.04. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $1.20 EPS. Old Dominion Freight Line’s revenue for the quarter was up 6.4% compared to the same quarter last year.

Several brokerages recently commented on ODFL. Morgan Stanley boosted their price target on Old Dominion Freight Line from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 17th. Wolfe Research upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and set a $221.00 price target for the company in a research report on Thursday, January 7th. Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, February 12th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $194.00 price target for the company in a research report on Thursday, January 14th. Finally, Smith Barney Citigroup upped their price objective on Old Dominion Freight Line from $200.00 to $225.00 in a report on Thursday, January 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $209.60.

Hedge funds have recently modified their holdings of the business. Brinker Capital Investments LLC purchased a new position in shares of Old Dominion Freight Line during the third quarter worth about $2,907,000. Assenagon Asset Management S.A. boosted its stake in shares of Old Dominion Freight Line by 4.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 268,341 shares of the transportation company’s stock worth $52,375,000 after buying an additional 10,950 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Old Dominion Freight Line by 5.1% during the fourth quarter. Pacer Advisors Inc. now owns 6,971 shares of the transportation company’s stock worth $1,361,000 after buying an additional 340 shares during the period. Ellevest Inc. lifted its holdings in shares of Old Dominion Freight Line by 336.2% during the fourth quarter. Ellevest Inc. now owns 253 shares of the transportation company’s stock worth $49,000 after purchasing an additional 195 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in shares of Old Dominion Freight Line by 4.1% during the fourth quarter. State of Michigan Retirement System now owns 25,548 shares of the transportation company’s stock worth $4,986,000 after purchasing an additional 1,000 shares during the period. 70.60% of the stock is currently owned by institutional investors.

Shares of Old Dominion Freight Line stock traded down $1.32 on Tuesday, reaching $210.44. The company’s stock had a trading volume of 15,094 shares, compared to its average volume of 694,504. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $24.69 billion, a P/E ratio of 40.18, a PEG ratio of 1.89 and a beta of 1.00. Old Dominion Freight Line has a 52-week low of $105.80 and a 52-week high of $217.15. The stock has a 50-day moving average price of $205.54 and a 200-day moving average price of $198.90.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 17th. Shareholders of record on Wednesday, March 3rd will be issued a dividend of $0.20 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 2nd. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.74%.

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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