Analysts Expect Old Dominion Freight Line (NASDAQ:ODFL) Will Post Earnings of $2.12 Per Share

Equities analysts predict that Old Dominion Freight Line (NASDAQ:ODFL) will post earnings of $2.12 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Old Dominion Freight Line’s earnings, with the lowest EPS estimate coming in at $2.06 and the highest estimate coming in at $2.19. Old Dominion Freight Line reported earnings of $1.99 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The firm is scheduled to issue its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year earnings of $7.95 per share for the current year, with EPS estimates ranging from $7.75 to $8.20. For the next year, analysts anticipate that the company will post earnings of $8.51 per share, with EPS estimates ranging from $8.10 to $9.05. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.06. Old Dominion Freight Line had a net margin of 15.32% and a return on equity of 23.87%. The company had revenue of $990.78 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $1.33 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 7.1% on a year-over-year basis.

ODFL has been the topic of a number of recent research reports. BidaskClub upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Bank of America lowered their target price on Old Dominion Freight Line from $157.00 to $144.00 and set a “neutral” rating on the stock in a report on Thursday, June 6th. Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a research note on Friday, April 5th. Finally, Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research note on Monday, March 11th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $147.80.

ODFL traded down $1.10 during trading hours on Friday, hitting $140.39. 1,800 shares of the stock were exchanged, compared to its average volume of 473,248. Old Dominion Freight Line has a 12 month low of $115.00 and a 12 month high of $170.22. The stock has a market capitalization of $11.36 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.40 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.19 and a quick ratio of 2.19.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is presently 9.21%.

Old Dominion Freight Line announced that its board has approved a share repurchase plan on Thursday, May 16th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the transportation company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its position in Old Dominion Freight Line by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock valued at $1,041,243,000 after buying an additional 153,943 shares in the last quarter. BlackRock Inc. lifted its position in shares of Old Dominion Freight Line by 0.9% during the first quarter. BlackRock Inc. now owns 6,276,214 shares of the transportation company’s stock worth $906,224,000 after acquiring an additional 53,003 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Old Dominion Freight Line by 9,888.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock worth $34,000 after acquiring an additional 4,140,856 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Old Dominion Freight Line by 0.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,630,184 shares of the transportation company’s stock worth $524,164,000 after purchasing an additional 13,241 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 1,218,189 shares of the transportation company’s stock worth $175,896,000 after purchasing an additional 21,830 shares during the period. Institutional investors and hedge funds own 70.56% of the company’s stock.

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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