$1.06 Billion in Sales Expected for Old Dominion Freight Line (NASDAQ:ODFL) This Quarter

Brokerages expect Old Dominion Freight Line (NASDAQ:ODFL) to post $1.06 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Old Dominion Freight Line’s earnings, with estimates ranging from $1.04 billion to $1.09 billion. Old Dominion Freight Line also posted sales of $1.06 billion in the same quarter last year. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, October 24th.

On average, analysts expect that Old Dominion Freight Line will report full-year sales of $4.16 billion for the current year, with estimates ranging from $4.13 billion to $4.18 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.40 billion, with estimates ranging from $4.33 billion to $4.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. Old Dominion Freight Line had a return on equity of 23.57% and a net margin of 15.48%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company posted $1.99 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year.

A number of research analysts have weighed in on the company. Morgan Stanley set a $146.00 price target on Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Friday, August 9th. BidaskClub lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Thursday. KeyCorp increased their price target on Old Dominion Freight Line from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America lowered Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and set a $166.00 price target on the stock. in a research note on Friday, September 27th. Finally, Robert W. Baird set a $162.00 price target on Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $153.42.

In other news, Chairman Earl E. Congdon sold 56,400 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.53, for a total transaction of $9,392,292.00. Following the completion of the sale, the chairman now directly owns 10,854 shares in the company, valued at approximately $1,807,516.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David S. Congdon sold 30,150 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $165.51, for a total value of $4,990,126.50. Following the sale, the insider now owns 13,385 shares of the company’s stock, valued at $2,215,351.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,799 shares of company stock valued at $14,586,493. Insiders own 11.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ODFL. Cordasco Financial Network increased its holdings in Old Dominion Freight Line by 77.2% in the 2nd quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Old Dominion Freight Line by 0.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,000 shares of the transportation company’s stock valued at $1,791,000 after purchasing an additional 80 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in Old Dominion Freight Line by 2.3% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 3,700 shares of the transportation company’s stock valued at $534,000 after purchasing an additional 82 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in Old Dominion Freight Line by 0.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 18,281 shares of the transportation company’s stock valued at $2,729,000 after purchasing an additional 90 shares in the last quarter. Finally, Capital Bank & Trust Co increased its holdings in Old Dominion Freight Line by 22.9% in the 2nd quarter. Capital Bank & Trust Co now owns 509 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.

Shares of Old Dominion Freight Line stock traded up $1.84 during trading hours on Friday, reaching $164.60. 587,828 shares of the company’s stock were exchanged, compared to its average volume of 515,000. Old Dominion Freight Line has a 52-week low of $115.00 and a 52-week high of $176.22. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.40 and a beta of 1.52. The company has a fifty day moving average of $166.69 and a 200-day moving average of $153.79. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.41%. Old Dominion Freight Line’s payout ratio is 9.21%.

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 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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