Equities research analysts forecast that Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) will post $1.44 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Old Dominion Freight Line’s earnings. The lowest sales estimate is $1.41 billion and the highest is $1.47 billion. Old Dominion Freight Line posted sales of $1.13 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.4%. The firm is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Old Dominion Freight Line will report full year sales of $6.23 billion for the current financial year, with estimates ranging from $6.10 billion to $6.47 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.71 billion, with estimates ranging from $6.48 billion to $7.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Old Dominion Freight Line.
Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last issued its earnings results on Wednesday, February 2nd. The transportation company reported $2.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.17. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 19.68% and a return on equity of 30.21%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 earnings per share.
A number of research firms have commented on ODFL. Bank of America lifted their price objective on shares of Old Dominion Freight Line from $300.00 to $304.00 and gave the stock an “underperform” rating in a research report on Thursday, February 3rd. Citigroup lifted their price objective on shares of Old Dominion Freight Line from $340.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, February 3rd. StockNews.com began coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 31st. They set a “hold” rating for the company. UBS Group reduced their price objective on shares of Old Dominion Freight Line from $365.00 to $330.00 and set a “neutral” rating for the company in a research report on Thursday, February 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $320.00 to $335.00 in a research report on Thursday, February 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $325.58.
ODFL stock opened at $264.75 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.98 and a quick ratio of 2.98. The company has a fifty day moving average price of $298.62 and a two-hundred day moving average price of $320.14. Old Dominion Freight Line has a one year low of $245.09 and a one year high of $373.58. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 16th. Investors of record on Wednesday, March 2nd were given a dividend of $0.30 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, March 1st. This represents a $1.20 annualized dividend and a yield of 0.45%. Old Dominion Freight Line’s dividend payout ratio is currently 13.50%.
A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Norges Bank acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $335,106,000. California Public Employees Retirement System raised its stake in Old Dominion Freight Line by 223.2% during the third quarter. California Public Employees Retirement System now owns 746,160 shares of the transportation company’s stock worth $213,387,000 after acquiring an additional 515,318 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Old Dominion Freight Line by 505.5% during the third quarter. Lord Abbett & CO. LLC now owns 450,012 shares of the transportation company’s stock worth $128,695,000 after acquiring an additional 375,696 shares in the last quarter. BlackRock Inc. raised its stake in Old Dominion Freight Line by 3.3% during the fourth quarter. BlackRock Inc. now owns 10,008,078 shares of the transportation company’s stock worth $3,586,696,000 after acquiring an additional 320,332 shares in the last quarter. Finally, KBC Group NV raised its stake in Old Dominion Freight Line by 250.1% during the fourth quarter. KBC Group NV now owns 445,017 shares of the transportation company’s stock worth $159,485,000 after acquiring an additional 317,891 shares in the last quarter. 77.87% of the stock is 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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.