Old Dominion Freight Line (NASDAQ:ODFL) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Old Dominion Freight Line (NASDAQ:ODFL) issued its earnings results on Wednesday. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01, Briefing.com reports. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.54 earnings per share.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $193.26 on Friday. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $227.80. The company has a market cap of $41.99 billion, a PE ratio of 32.87, a P/E/G ratio of 4.20 and a beta of 0.99. The stock has a 50-day moving average of $195.58 and a 200-day moving average of $190.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 17.82%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent research reports. Morgan Stanley cut their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the company from $209.00 to $197.00 in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday. Barclays lowered their target price on Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Susquehanna decreased their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $196.39.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.