Old Dominion Freight Line (ODFL) to Issue Quarterly Dividend of $0.13

Old Dominion Freight Line (NASDAQ:ODFL) declared a quarterly dividend on Thursday, November 1st, RTT News reports. Stockholders of record on Thursday, December 6th will be given a dividend of 0.13 per share by the transportation company on Thursday, December 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, December 5th.

Old Dominion Freight Line has a payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Old Dominion Freight Line to earn $7.87 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 6.6%.

Old Dominion Freight Line stock opened at $135.49 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 1.92. Old Dominion Freight Line has a 1 year low of $118.73 and a 1 year high of $170.22. The stock has a market capitalization of $11.18 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.39.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.15. Old Dominion Freight Line had a net margin of 16.47% and a return on equity of 22.13%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, research analysts expect that Old Dominion Freight Line will post 7.19 earnings per share for the current year.

A number of research analysts have recently issued reports on ODFL shares. Bank of America raised their price target on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a research report on Thursday, August 30th. Buckingham Research cut their price objective on shares of Old Dominion Freight Line from $162.00 to $154.00 and set a “neutral” rating on the stock in a research report on Friday, October 12th. Morgan Stanley downgraded shares of Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $160.00 to $146.00 in a research report on Monday, October 22nd. BidaskClub upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, Argus cut their price objective on shares of Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $146.25.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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