Old Dominion Freight Line, Inc. (ODFL) To Go Ex-Dividend on June 5th

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced a quarterly dividend on Monday, May 20th, RTT News reports. Shareholders 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 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, June 5th.

Old Dominion Freight Line has increased its dividend payment by an average of 38.4% annually over the last three years and has raised its dividend every year for the last 4 years. Old Dominion Freight Line has a dividend 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 Trading Down 2.0 %

ODFL opened at $175.46 on Wednesday. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.86 and a beta of 1.07. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12 month low of $147.90 and a 12 month high of $227.80. The stock has a fifty day moving average price of $207.97 and a 200-day moving average price of $204.70.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, equities research analysts anticipate that Old Dominion Freight Line will post 6.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent research reports. Raymond James increased their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a research report on Monday, April 29th. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. cut their price target on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, 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. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $209.08.

Insider Buying and Selling

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now 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 is available through the SEC website. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Company Profile

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.