$867.32 Million in Sales Expected for Old Dominion Freight Line, Inc. (ODFL) This Quarter

Equities analysts predict that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will announce $867.32 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Old Dominion Freight Line’s earnings. The highest sales estimate is $893.20 million and the lowest is $835.00 million. Old Dominion Freight Line reported sales of $745.74 million during the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is expected to issue its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Old Dominion Freight Line will report full-year sales of $867.32 million for the current financial year, with estimates ranging from $3.30 billion to $3.36 billion. For the next financial year, analysts expect that the firm will report sales of $3.69 billion per share, with estimates ranging from $3.57 billion to $3.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The company had revenue of $872.99 million during the quarter, compared to analysts’ expectations of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. Old Dominion Freight Line’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS.

ODFL has been the subject of several analyst reports. Buckingham Research initiated coverage on Old Dominion Freight Line in a report on Monday, August 21st. They set a “neutral” rating and a $105.00 target price for the company. BidaskClub cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Cowen restated a “hold” rating and set a $100.00 target price on shares of Old Dominion Freight Line in a report on Friday, September 1st. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Tuesday, October 3rd. Finally, Morgan Stanley increased their target price on Old Dominion Freight Line from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, October 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $113.08.

A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in Old Dominion Freight Line by 73.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 105,349 shares of the transportation company’s stock valued at $11,600,000 after buying an additional 44,458 shares in the last quarter. Salem Investment Counselors Inc. increased its position in Old Dominion Freight Line by 3,281.3% during the 3rd quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,050 shares in the last quarter. Fieldpoint Private Securities LLC bought a new position in Old Dominion Freight Line during the 3rd quarter valued at approximately $100,000. Neuberger Berman Group LLC increased its position in Old Dominion Freight Line by 16.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 176,052 shares of the transportation company’s stock valued at $19,385,000 after buying an additional 25,000 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Old Dominion Freight Line by 6.4% during the 3rd quarter. California Public Employees Retirement System now owns 206,395 shares of the transportation company’s stock valued at $22,726,000 after buying an additional 12,495 shares in the last quarter. 72.39% of the stock is owned by institutional investors.

Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at $129.31 on Tuesday. The firm has a market capitalization of $10,661.92, a PE ratio of 31.88, a P/E/G ratio of 1.81 and a beta of 1.20. Old Dominion Freight Line has a fifty-two week low of $80.56 and a fifty-two week high of $131.39. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Tuesday, December 5th. Old Dominion Freight Line’s dividend payout ratio is currently 9.85%.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

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