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

Old Dominion Freight Line (NASDAQ:ODFL) will announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.67 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.04. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business posted $1.46 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. 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

NASDAQ ODFL opened at $220.48 on Wednesday. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80. The company has a market capitalization of $47.99 billion, a P/E ratio of 39.16, a PEG ratio of 3.17 and a beta of 1.02. The business has a 50 day moving average price of $221.78 and a 200 day moving average price of $206.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Old Dominion Freight Line Cuts Dividend

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

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. Susquehanna raised their price objective on 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. Barclays lowered their target price on Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, Raymond James raised their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $214.19.

Insider Transactions at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was 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 of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of ODFL. First Capital Advisors Group LLC. acquired a new position in shares of Old Dominion Freight Line during the second quarter worth approximately $35,000. State of Wyoming bought a new stake in Old Dominion Freight Line during the second quarter worth approximately $42,000. Harbour Investments Inc. raised its holdings in Old Dominion Freight Line by 184.4% during the first quarter. Harbour Investments Inc. now owns 128 shares of the transportation company’s stock worth $44,000 after purchasing an additional 83 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in Old Dominion Freight Line during the second quarter worth approximately $47,000. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Old Dominion Freight Line by 56.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company’s stock valued at $52,000 after buying an additional 63 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

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.