Old Dominion Freight Line (NASDAQ:ODFL) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Old Dominion Freight Line (NASDAQ:ODFL) issued its earnings results on Wednesday. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03, Briefing.com reports. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Old Dominion Freight Line’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 earnings per share.

Old Dominion Freight Line Stock Up 5.8 %

Shares of NASDAQ:ODFL traded up $11.31 during trading on Thursday, hitting $205.93. 2,314,399 shares of the company’s stock traded hands, compared to its average volume of 1,616,174. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $44.75 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.00. The company has a 50-day moving average price of $179.40 and a 200-day moving average price of $198.68.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. Susquehanna dropped their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, June 12th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Monday, April 29th. BMO Capital Markets increased their price objective on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price for the company. 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $201.97.

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.