$1.36 Billion in Sales Expected for Old Dominion Freight Line, Inc. (NASDAQ:ODFL) This Quarter

Wall Street brokerages predict that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will report sales of $1.36 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Old Dominion Freight Line’s earnings, with the lowest sales estimate coming in at $1.35 billion and the highest estimate coming in at $1.36 billion. Old Dominion Freight Line reported sales of $1.07 billion in the same quarter last year, which indicates a positive year over year growth rate of 27.1%. The company is scheduled to report its next quarterly earnings results on Thursday, February 3rd.

On average, analysts expect that Old Dominion Freight Line will report full-year sales of $5.22 billion for the current fiscal year, with estimates ranging from $5.20 billion to $5.24 billion. For the next financial year, analysts expect that the business will report sales of $5.81 billion, with estimates ranging from $5.62 billion to $6.17 billion. Zacks’ 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 Wednesday, October 27th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.10. Old Dominion Freight Line had a return on equity of 28.35% and a net margin of 19.22%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the business earned $1.71 EPS. The firm’s quarterly revenue was up 32.3% on a year-over-year basis.

Several research firms recently issued reports on ODFL. UBS Group cut shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $288.00 to $365.00 in a research report on Tuesday, November 16th. Morgan Stanley cut shares of Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and set a $330.00 price objective for the company. in a research report on Tuesday, November 9th. Citigroup raised their price objective on shares of Old Dominion Freight Line from $295.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, October 28th. Robert W. Baird restated a “hold” rating and set a $264.00 price objective on shares of Old Dominion Freight Line in a research report on Sunday, August 1st. Finally, Credit Suisse Group lifted their price target on shares of Old Dominion Freight Line from $265.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $283.70.

In related news, Chairman David S. Congdon sold 17,000 shares of the company’s stock in a transaction on Thursday, November 18th. The shares were sold at an average price of $353.66, for a total value of $6,012,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $345.03, for a total transaction of $1,035,090.00. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in ODFL. Ancora Advisors LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $29,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at approximately $28,000. Cullen Frost Bankers Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at approximately $30,000. Emerald Advisers LLC purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at approximately $33,000. Finally, Clearstead Advisors LLC boosted its holdings in Old Dominion Freight Line by 1,828.6% in the 3rd quarter. Clearstead Advisors LLC now owns 135 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 70.14% of the company’s stock.

Old Dominion Freight Line stock opened at $358.83 on Friday. Old Dominion Freight Line has a 12-month low of $189.45 and a 12-month high of $364.07. The stock has a market cap of $41.27 billion, a P/E ratio of 44.35, a PEG ratio of 1.45 and a beta of 1.05. The company has a 50-day moving average price of $321.41 and a 200 day moving average price of $286.57. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.03.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.22%. The ex-dividend date is Tuesday, November 30th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.89%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

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