Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Forecasted to Post Q2 2022 Earnings of $3.10 Per Share

Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) – Equities researchers at KeyCorp boosted their Q2 2022 earnings estimates for shares of Old Dominion Freight Line in a note issued to investors on Wednesday, April 27th. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings per share of $3.10 for the quarter, up from their previous estimate of $2.88. KeyCorp also issued estimates for Old Dominion Freight Line’s Q3 2022 earnings at $3.02 EPS, Q4 2022 earnings at $2.78 EPS and FY2023 earnings at $12.25 EPS.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The transportation company reported $2.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.19. Old Dominion Freight Line had a net margin of 19.68% and a return on equity of 30.21%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Old Dominion Freight Line’s revenue was up 32.9% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. StockNews.com initiated coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James reduced their price objective on shares of Old Dominion Freight Line from $365.00 to $305.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 20th. Citigroup boosted their target price on Old Dominion Freight Line from $340.00 to $350.00 and gave the company a “neutral” rating in a research report on Thursday, February 3rd. Stephens increased their price target on Old Dominion Freight Line from $360.00 to $385.00 in a report on Tuesday, January 4th. Finally, Susquehanna Bancshares raised their price target on Old Dominion Freight Line from $275.00 to $285.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $301.05.

Shares of Old Dominion Freight Line stock opened at $292.26 on Friday. The stock has a 50 day moving average price of $294.23 and a 200-day moving average price of $318.86. Old Dominion Freight Line has a one year low of $245.56 and a one year high of $373.58. The stock has a market cap of $33.25 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.98 and a current ratio of 2.98.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 16th. Stockholders of record on Wednesday, March 2nd were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.41%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.20. Old Dominion Freight Line’s payout ratio is currently 13.50%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Old Dominion Freight Line by 3.3% in the fourth quarter. BlackRock Inc. now owns 10,008,078 shares of the transportation company’s stock worth $3,586,696,000 after buying an additional 320,332 shares in the last quarter. State Street Corp increased its holdings in shares of Old Dominion Freight Line by 1.2% in the 4th quarter. State Street Corp now owns 4,109,936 shares of the transportation company’s stock valued at $1,472,919,000 after acquiring an additional 49,624 shares during the period. WCM Investment Management LLC raised its position in shares of Old Dominion Freight Line by 4.8% in the 4th quarter. WCM Investment Management LLC now owns 1,933,945 shares of the transportation company’s stock worth $693,087,000 after acquiring an additional 88,213 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,907,518 shares of the transportation company’s stock worth $681,957,000 after purchasing an additional 35,843 shares during the last quarter. Finally, Norges Bank bought a new stake in Old Dominion Freight Line during the fourth quarter valued at about $335,106,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.

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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