Old Dominion Freight Line (ODFL) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Old Dominion Freight Line (NASDAQ:ODFL) posted its quarterly earnings data on Thursday. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01, Morningstar.com reports. The business had revenue of $891.12 million during the quarter, compared to analyst estimates of $879.00 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS.

Shares of Old Dominion Freight Line (ODFL) traded down $2.64 during trading hours on Friday, hitting $129.07. The stock had a trading volume of 693,790 shares, compared to its average volume of 623,834. Old Dominion Freight Line has a twelve month low of $80.56 and a twelve month high of $150.31. The stock has a market cap of $11,698.21, a P/E ratio of 32.40 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.44 and a quick ratio of 1.44.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be issued a $0.13 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.85%.

Several equities research analysts have recently issued reports on the company. Buckingham Research raised their price objective on Old Dominion Freight Line from $144.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday. Cowen restated a “market perform” rating and set a $136.00 price objective (up from $113.00) on shares of Old Dominion Freight Line in a report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $134.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, January 18th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Saturday, January 6th. Finally, Seaport Global Securities restated a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $122.08.

Large investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $100,000. Salem Investment Counselors Inc. increased its holdings in shares of Old Dominion Freight Line by 3,281.3% in the 3rd quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after acquiring an additional 1,050 shares during the period. Pinebridge Investments L.P. purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $123,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $132,000. Finally, FDx Advisors Inc. purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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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.

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

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