Old Dominion Freight Line (NASDAQ:ODFL) Announces Earnings Results

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

Old Dominion Freight Line Trading Up 5.8 %

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. The stock has a fifty day moving average of $179.40 and a two-hundred day moving average of $198.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. The firm has a market cap of $44.75 billion, a P/E ratio of 36.30, a PEG ratio of 2.55 and a beta of 1.00.

Old Dominion Freight Line Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on ODFL shares. UBS Group boosted their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Barclays reduced their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target for the company. Evercore ISI restated an “in-line” rating and set a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Finally, TD Cowen boosted their price target on shares of Old Dominion Freight Line from $206.00 to $214.00 and gave the company a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price 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.