Zacks: Brokerages Expect Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Will Post Quarterly Sales of $1.63 Billion

Analysts expect that Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) will announce sales of $1.63 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Old Dominion Freight Line’s earnings. The lowest sales estimate is $1.58 billion and the highest is $1.69 billion. Old Dominion Freight Line reported sales of $1.32 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.5%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year sales of $6.40 billion for the current year, with estimates ranging from $6.21 billion to $6.73 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.86 billion, with estimates ranging from $6.48 billion to $7.51 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The transportation company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.19. Old Dominion Freight Line had a return on equity of 32.41% and a net margin of 20.17%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $1.70 earnings per share. The company’s revenue was up 32.9% compared to the same quarter last year.

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on 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. UBS Group lowered their target price on Old Dominion Freight Line from $365.00 to $330.00 and set a “neutral” rating on the stock in a research report on Thursday, February 3rd. Raymond James lowered their target price on 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. Susquehanna Bancshares upped their target price on Old Dominion Freight Line from $275.00 to $285.00 in a research report on Thursday, April 28th. Finally, Cowen upped their target price on Old Dominion Freight Line from $213.00 to $232.00 in a research report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $303.89.

Shares of ODFL opened at $280.34 on Monday. Old Dominion Freight Line has a 52-week low of $245.56 and a 52-week high of $373.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.98 and a current ratio of 2.21. The business’s 50 day moving average price is $292.77 and its two-hundred day moving average price is $318.29. The firm has a market cap of $31.89 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.03.

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its stake in shares of Old Dominion Freight Line by 3.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 36,382 shares of the transportation company’s stock worth $13,039,000 after acquiring an additional 1,363 shares during the period. Janus Henderson Group PLC grew its stake in shares of Old Dominion Freight Line by 41.2% during the 3rd quarter. Janus Henderson Group PLC now owns 91,080 shares of the transportation company’s stock worth $26,046,000 after acquiring an additional 26,578 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Old Dominion Freight Line by 359.3% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,504 shares of the transportation company’s stock worth $3,004,000 after acquiring an additional 8,217 shares during the period. Morgan Stanley grew its stake in shares of Old Dominion Freight Line by 30.2% during the 3rd quarter. Morgan Stanley now owns 772,797 shares of the transportation company’s stock worth $221,005,000 after acquiring an additional 179,388 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 20,330 shares of the transportation company’s stock worth $7,286,000 after acquiring an additional 394 shares during the period. Hedge funds and other institutional investors own 77.86% of the company’s stock.

About Old Dominion Freight Line (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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