Old Dominion Freight Line (NASDAQ:ODFL) Announces Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) issued its quarterly earnings data on Wednesday. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03, Briefing.com reports. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $1.33 EPS. Old Dominion Freight Line’s quarterly revenue was up 6.1% on a year-over-year basis.

Old Dominion Freight Line Trading Down 1.0 %

Shares of ODFL traded down $2.06 during midday trading on Friday, hitting $203.64. The stock had a trading volume of 1,338,478 shares, compared to its average volume of 1,620,104. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The business has a 50-day simple moving average of $179.87 and a two-hundred day simple moving average of $198.72. The firm has a market cap of $44.25 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00. The company has a current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Ratings Changes

ODFL has been the subject of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Robert W. Baird increased their price objective on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets increased their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $201.97.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.