Equities Analysts Issue Forecasts for Old Dominion Freight Line’s FY2018 Earnings (ODFL)

Old Dominion Freight Line (NASDAQ:ODFL) – Analysts at Seaport Global Securities upped their FY2018 EPS estimates for Old Dominion Freight Line in a research report issued on Friday, October 26th. Seaport Global Securities analyst W. Milby now forecasts that the transportation company will earn $7.16 per share for the year, up from their previous forecast of $6.89. Seaport Global Securities also issued estimates for Old Dominion Freight Line’s Q4 2018 earnings at $1.73 EPS, Q1 2019 earnings at $1.68 EPS, Q2 2019 earnings at $2.10 EPS, Q4 2019 earnings at $1.87 EPS, Q2 2020 earnings at $2.24 EPS, Q3 2020 earnings at $2.30 EPS and FY2020 earnings at $8.35 EPS.

A number of other research firms have also recently issued reports on ODFL. Bank of America raised their target price on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a research note on Thursday, August 30th. BidaskClub cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Buckingham Research raised their target price on shares of Old Dominion Freight Line from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Morgan Stanley cut shares of Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $160.00 to $146.00 in a research note on Monday, October 22nd. Finally, Argus cut their target price on shares of Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $146.58.



NASDAQ ODFL opened at $120.61 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.20 billion, a PE ratio of 27.66, a P/E/G ratio of 0.70 and a beta of 1.18. Old Dominion Freight Line has a 52-week low of $116.61 and a 52-week high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Old Dominion Freight Line had a net margin of 16.47% and a return on equity of 22.13%.

A number of large investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. increased its position in Old Dominion Freight Line by 4.1% during the second quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock worth $1,384,000 after acquiring an additional 363 shares during the period. OppenheimerFunds Inc. increased its position in Old Dominion Freight Line by 5.2% during the second quarter. OppenheimerFunds Inc. now owns 7,370 shares of the transportation company’s stock worth $1,098,000 after acquiring an additional 363 shares during the period. State Board of Administration of Florida Retirement System increased its position in Old Dominion Freight Line by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock worth $10,528,000 after acquiring an additional 370 shares during the period. Alps Advisors Inc. increased its position in Old Dominion Freight Line by 5.0% during the second quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock worth $1,199,000 after acquiring an additional 381 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Old Dominion Freight Line by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the transportation company’s stock worth $2,741,000 after acquiring an additional 400 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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