Old Dominion Freight Line (ODFL) Set to Announce Quarterly Earnings on Wednesday

Old Dominion Freight Line (NASDAQ:ODFL) will be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Old Dominion Freight Line to post earnings of $2.67 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.43 by $0.04. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, analysts expect Old Dominion Freight Line to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $220.48 on Wednesday. The firm has a market cap of $47.99 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 3.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. The firm’s 50-day simple moving average is $221.78 and its two-hundred day simple moving average is $206.41.

Old Dominion Freight Line Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. Old Dominion Freight Line’s payout ratio is 18.47%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the sale, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently made changes to their positions in the business. First Capital Advisors Group LLC. bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $35,000. State of Wyoming bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $42,000. Tyler Stone Wealth Management bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $47,000. Harbour Investments Inc. lifted its holdings in shares of Old Dominion Freight Line by 184.4% in the 1st quarter. Harbour Investments Inc. now owns 128 shares of the transportation company’s stock worth $44,000 after acquiring an additional 83 shares during the last quarter. Finally, KB Financial Partners LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $55,000. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America reiterated a “neutral” rating and issued a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research note on Wednesday, March 6th. Raymond James boosted their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research note on Monday. Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $214.19.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.