Old Dominion Freight Line Forecasted to Earn Q4 2020 Earnings of $1.39 Per Share (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ:ODFL) – Equities researchers at KeyCorp upped their Q4 2020 EPS estimates for Old Dominion Freight Line in a research report issued on Sunday, August 23rd. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings per share of $1.39 for the quarter, up from their previous forecast of $1.28. KeyCorp has a “Overweight” rating and a $220.00 price objective on the stock.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, July 30th. The transportation company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.22. The business had revenue of $896.21 million for the quarter, compared to the consensus estimate of $899.18 million. Old Dominion Freight Line had a net margin of 14.95% and a return on equity of 19.66%. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share.

Several other analysts have also recently commented on ODFL. Deutsche Bank raised their price objective on shares of Old Dominion Freight Line from $133.00 to $166.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Credit Suisse Group lifted their target price on shares of Old Dominion Freight Line from $166.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Friday, August 21st. Morgan Stanley lifted their target price on shares of Old Dominion Freight Line from $154.00 to $169.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Stephens lifted their target price on shares of Old Dominion Freight Line from $150.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $160.42.

Shares of NASDAQ ODFL opened at $197.67 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.03. Old Dominion Freight Line has a 52 week low of $104.61 and a 52 week high of $200.95. The firm has a 50-day moving average price of $185.61 and a 200 day moving average price of $171.86. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 4.22 and a beta of 1.06.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. Capital Research Global Investors grew its stake in Old Dominion Freight Line by 47.5% during the first quarter. Capital Research Global Investors now owns 10,755,271 shares of the transportation company’s stock worth $1,411,739,000 after buying an additional 3,461,277 shares during the period. BlackRock Inc. lifted its position in shares of Old Dominion Freight Line by 53.6% during the first quarter. BlackRock Inc. now owns 6,550,218 shares of the transportation company’s stock worth $859,784,000 after purchasing an additional 2,284,461 shares in the last quarter. State Street Corp lifted its position in shares of Old Dominion Freight Line by 48.3% during the first quarter. State Street Corp now owns 3,981,821 shares of the transportation company’s stock worth $522,654,000 after purchasing an additional 1,296,053 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its position in shares of Old Dominion Freight Line by 48.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 1,824,519 shares of the transportation company’s stock worth $239,486,000 after purchasing an additional 598,185 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Old Dominion Freight Line by 57.0% during the first quarter. Geode Capital Management LLC now owns 1,633,465 shares of the transportation company’s stock worth $214,029,000 after purchasing an additional 593,208 shares in the last quarter. Institutional investors own 73.64% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.60 annualized dividend and a yield of 0.30%. Old Dominion Freight Line’s dividend payout ratio is currently 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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Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

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