Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – Investment analysts at Seaport Global Securities upped their FY2017 earnings estimates for Old Dominion Freight Line in a research report issued to clients and investors on Friday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will earn $4.30 per share for the year, up from their previous forecast of $4.12. Seaport Global Securities also issued estimates for Old Dominion Freight Line’s Q4 2017 earnings at $1.07 EPS, Q1 2018 earnings at $0.96 EPS, Q2 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.22 EPS, FY2018 earnings at $4.85 EPS, Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.53 EPS, Q3 2019 earnings at $1.57 EPS and FY2019 earnings at $5.65 EPS.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The firm had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. WARNING: This article was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.watchlistnews.com/fy2017-eps-estimates-for-old-dominion-freight-line-inc-raised-by-seaport-global-securities-odfl/1669657.html.

A number of other research firms also recently issued reports on ODFL. Stifel Nicolaus restated a “hold” rating and set a $111.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, October 26th. Citigroup Inc. raised their price target on Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Buckingham Research raised their price target on Old Dominion Freight Line from $105.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Tuesday, October 3rd. Finally, Bank of America Corporation downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $105.00 to $102.00 in a research note on Tuesday, October 10th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $108.23.

Shares of Old Dominion Freight Line (ODFL) opened at 121.13 on Monday. Old Dominion Freight Line has a 12-month low of $72.99 and a 12-month high of $124.13. The firm has a market cap of $9.98 billion, a P/E ratio of 31.37 and a beta of 1.09. The company’s 50 day moving average price is $108.77 and its 200-day moving average price is $97.17.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. Old Dominion Freight Line’s payout ratio is 9.85%.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the sale, the insider now directly owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ODFL. Janus Henderson Group PLC acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $266,855,000. William Blair Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after buying an additional 191,911 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 8.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock valued at $199,998,000 after buying an additional 157,362 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock valued at $183,182,000 after buying an additional 151,407 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 100.3% in the 1st quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock valued at $25,619,000 after buying an additional 149,951 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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.

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

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