Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Expected to Announce Earnings of $2.33 Per Share

Equities research analysts predict that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will post $2.33 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Old Dominion Freight Line’s earnings, with the lowest EPS estimate coming in at $2.25 and the highest estimate coming in at $2.40. Old Dominion Freight Line reported earnings of $1.71 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 26th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full-year earnings of $8.46 per share for the current fiscal year, with EPS estimates ranging from $8.25 to $8.60. For the next financial year, analysts anticipate that the business will post earnings of $9.59 per share, with EPS estimates ranging from $9.20 to $10.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 28th. The transportation company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.14. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Old Dominion Freight Line had a net margin of 18.80% and a return on equity of 26.30%.

A number of research analysts have issued reports on ODFL shares. Wells Fargo & Company increased their target price on shares of Old Dominion Freight Line from $263.00 to $264.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. The Goldman Sachs Group lowered shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and set a $281.00 target price on the stock. in a research report on Monday, August 2nd. Credit Suisse Group increased their target price on shares of Old Dominion Freight Line from $265.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 29th. Wolfe Research lowered shares of Old Dominion Freight Line from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 15th. Finally, Morgan Stanley increased their target price on shares of Old Dominion Freight Line from $290.00 to $292.00 and gave the stock an “overweight” rating in a research report on Thursday, August 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $255.00.

Several hedge funds have recently added to or reduced their stakes in ODFL. WCM Investment Management LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at $276,038,000. BlackRock Inc. raised its stake in shares of Old Dominion Freight Line by 9.8% during the second quarter. BlackRock Inc. now owns 9,673,939 shares of the transportation company’s stock valued at $2,455,248,000 after acquiring an additional 865,667 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 31.0% during the second quarter. JPMorgan Chase & Co. now owns 2,389,432 shares of the transportation company’s stock valued at $606,437,000 after acquiring an additional 565,063 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Old Dominion Freight Line by 123.3% during the second quarter. CIBC Private Wealth Group LLC now owns 997,709 shares of the transportation company’s stock valued at $253,218,000 after acquiring an additional 550,929 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Old Dominion Freight Line by 115.7% during the first quarter. Royal Bank of Canada now owns 714,182 shares of the transportation company’s stock valued at $171,695,000 after acquiring an additional 383,128 shares during the last quarter. 70.11% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line stock traded up $0.72 during trading hours on Thursday, hitting $291.50. The company had a trading volume of 427,735 shares, compared to its average volume of 643,344. The firm has a market cap of $33.76 billion, a PE ratio of 39.77, a PEG ratio of 1.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.72 and a quick ratio of 2.72. Old Dominion Freight Line has a one year low of $176.34 and a one year high of $304.22. The firm has a 50-day moving average of $276.50 and a 200 day moving average of $258.91.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, August 31st. Old Dominion Freight Line’s payout ratio is 14.08%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

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