$1.44 Billion in Sales Expected for Old Dominion Freight Line, Inc. (NASDAQ:ODFL) This Quarter

Brokerages forecast that Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) will announce sales of $1.44 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Old Dominion Freight Line’s earnings. The highest sales estimate is $1.47 billion and the lowest is $1.41 billion. Old Dominion Freight Line posted sales of $1.13 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.4%. The business is scheduled to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Old Dominion Freight Line will report full year sales of $6.23 billion for the current year, with estimates ranging from $6.10 billion to $6.47 billion. For the next 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 calculations are an average based on a survey of research firms that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last announced its earnings results on Wednesday, February 2nd. The transportation company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm 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 business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS.

ODFL has been the topic of several research analyst reports. Bank of America raised their price target 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 raised their price target 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. Raymond James decreased their price target on shares of Old Dominion Freight Line from $380.00 to $365.00 and set an “outperform” rating on the stock in a research report on Friday, February 4th. Stephens raised their price target on shares of Old Dominion Freight Line from $360.00 to $385.00 in a research report on Tuesday, January 4th. Finally, Wells Fargo & Company raised their price target on shares of Old Dominion Freight Line from $335.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $325.58.

A number of large investors have recently added to or reduced their stakes in ODFL. CVA Family Office LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Rise Advisors LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $30,000. Carroll Financial Associates Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Ancora Advisors LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $29,000. Finally, Pittenger & Anderson Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.

Shares of ODFL 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 market capitalization of $30.41 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03. The company’s fifty day moving average price is $298.62 and its 200 day moving average price is $320.14. Old Dominion Freight Line has a one year low of $245.09 and a one year high of $373.58.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 16th. Shareholders of record on Wednesday, March 2nd were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 1st. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 0.45%. Old Dominion Freight Line’s payout ratio is 13.50%.

Old Dominion Freight Line Company Profile (Get Rating)

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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