Wall Street brokerages expect that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will announce $854.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Old Dominion Freight Line’s earnings, with the highest sales estimate coming in at $860.90 million and the lowest estimate coming in at $846.60 million. Old Dominion Freight Line posted sales of $782.61 million in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.

On average, analysts expect that Old Dominion Freight Line will report full year sales of $854.04 million for the current financial year, with estimates ranging from $3.23 billion to $3.28 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.52 billion per share, with estimates ranging from $3.43 billion to $3.59 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Credit Suisse Group reaffirmed an “outperform” rating and set a $109.00 price objective (up previously from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $83.00 to $96.00 in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the company from $108.00 to $98.00 in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $99.20.

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Old Dominion Freight Line (ODFL) opened at 100.33 on Friday. The stock has a market cap of $8.27 billion, a PE ratio of 25.99 and a beta of 1.07. The firm has a 50-day moving average price of $97.52 and a 200 day moving average price of $91.84. Old Dominion Freight Line has a 52-week low of $66.33 and a 52-week high of $103.51.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 1st. This represents a $0.40 annualized dividend and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio is 10.39%.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the sale, the insider now directly owns 9,516 shares in the company, valued at approximately $930,950.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ODFL. SRS Capital Advisors Inc. boosted its stake in shares of Old Dominion Freight Line by 18.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,308 shares of the transportation company’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Old Dominion Freight Line by 115.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock worth $115,000 after buying an additional 647 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $157,000. Private Advisor Group LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth $166,000. Finally, IFP Advisors Inc boosted its stake in shares of Old Dominion Freight Line by 12.9% in the 2nd quarter. IFP Advisors Inc now owns 2,077 shares of the transportation company’s stock worth $198,000 after buying an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 73.93% of the company’s stock.

Old Dominion Freight Line Company Profile

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.

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

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