Brokerages predict that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will announce $855.60 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Old Dominion Freight Line’s earnings, with the lowest sales estimate coming in at $846.60 million and the highest estimate coming in at $868.70 million. Old Dominion Freight Line reported sales of $782.61 million during the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The firm is expected to report its next earnings report before the market opens on Thursday, October 26th.

On average, analysts expect that Old Dominion Freight Line will report full-year sales of $855.60 million for the current fiscal year, with estimates ranging from $3.23 billion to $3.29 billion. For the next year, analysts expect that the business will report sales of $3.54 billion per share, with estimates ranging from $3.43 billion to $3.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $824.68 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year.

A number of research firms have recently issued reports on ODFL. Credit Suisse Group reiterated an “outperform” rating and set a $109.00 price target (up 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. Deutsche Bank AG downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price target for the company from $108.00 to $98.00 in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price target for the company in a research report on Tuesday. BidaskClub upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Buckingham Research began coverage on shares of Old Dominion Freight Line in a research report on Monday, August 21st. They set a “neutral” rating and a $105.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $99.64.

In related news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 9,516 shares in the company, valued at approximately $930,950.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.00% of the company’s stock.

Several institutional investors have recently modified their holdings of ODFL. UBS Asset Management Americas Inc. raised its position in shares of Old Dominion Freight Line by 14.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 43,125 shares of the transportation company’s stock worth $3,690,000 after purchasing an additional 5,351 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Old Dominion Freight Line by 8.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 90,502 shares of the transportation company’s stock worth $7,744,000 after purchasing an additional 7,242 shares during the last quarter. M&T Bank Corp raised its position in shares of Old Dominion Freight Line by 0.3% during the 1st quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock worth $453,000 after purchasing an additional 14 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Old Dominion Freight Line by 136.9% during the 1st quarter. SG Americas Securities LLC now owns 17,680 shares of the transportation company’s stock worth $1,513,000 after purchasing an additional 10,216 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Old Dominion Freight Line by 2.1% during the 1st quarter. Neuberger Berman Group LLC now owns 149,652 shares of the transportation company’s stock worth $12,806,000 after purchasing an additional 3,039 shares during the last quarter. Hedge funds and other institutional investors own 73.84% of the company’s stock.

Shares of Old Dominion Freight Line (NASDAQ:ODFL) traded down 0.84% during trading on Thursday, hitting $107.13. The company’s stock had a trading volume of 273,858 shares. The company has a 50-day moving average price of $101.41 and a 200-day moving average price of $93.42. Old Dominion Freight Line has a one year low of $68.82 and a one year high of $110.45. The stock has a market cap of $8.83 billion, a PE ratio of 27.75 and a beta of 1.09.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

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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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