Old Dominion Freight Line, Inc. (ODFL) to Issue Quarterly Dividend of $0.26 on June 19th

Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Free Report) declared a quarterly dividend on Monday, May 20th, RTT News reports. Stockholders of record on Wednesday, June 5th will be paid a dividend of 0.26 per share by the transportation company on Wednesday, June 19th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, June 5th.

Old Dominion Freight Line has raised its dividend by an average of 38.4% annually over the last three years and has increased its dividend every year for the last 4 years. Old Dominion Freight Line has a payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Dominion Freight Line to earn $7.13 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 14.6%.

Old Dominion Freight Line Stock Up 1.3 %

ODFL stock opened at $175.25 on Monday. The stock has a market cap of $38.08 billion, a P/E ratio of 30.85, a P/E/G ratio of 2.22 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $201.19 and its two-hundred day simple moving average is $203.32. Old Dominion Freight Line has a 1-year low of $149.00 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Analysts expect that Old Dominion Freight Line will post 6.02 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ODFL. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Susquehanna upped their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research report on Thursday, February 8th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research note on Monday, April 29th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.08.

View Our Latest Report on ODFL

Old Dominion Freight Line Company Profile

(Get Free Report)

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.

See Also

Dividend History for Old Dominion Freight Line (NASDAQ:ODFL)

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