Old Dominion Freight Line (ODFL) Expected to Post Quarterly Sales of $875.78 Million

Wall Street analysts predict that Old Dominion Freight Line (NASDAQ:ODFL) will post sales of $875.78 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Old Dominion Freight Line’s earnings, with the lowest sales estimate coming in at $856.00 million and the highest estimate coming in at $893.20 million. Old Dominion Freight Line reported sales of $745.74 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.4%. The firm is scheduled to report its next earnings results before the market opens on Thursday, February 8th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full-year sales of $875.78 million for the current financial year, with estimates ranging from $3.32 billion to $3.36 billion. For the next year, analysts expect that the firm will post sales of $3.72 billion per share, with estimates ranging from $3.64 billion to $3.83 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The company had revenue of $872.99 million during the quarter, compared to analyst estimates of $855.85 million. During the same quarter last year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis.

Several equities research analysts have commented on ODFL shares. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a report on Tuesday, October 3rd. Morgan Stanley boosted their target price on Old Dominion Freight Line from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Robert W. Baird reissued a “hold” rating and issued a $113.00 target price on shares of Old Dominion Freight Line in a report on Friday, October 6th. Bank of America downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $105.00 to $102.00 in a report on Tuesday, October 10th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $119.00 price target (up from $110.00) on shares of Old Dominion Freight Line in a report on Thursday, October 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $116.92.

Several large investors have recently made changes to their positions in ODFL. State of Alaska Department of Revenue purchased a new stake in Old Dominion Freight Line in the fourth quarter worth about $604,000. Oakbrook Investments LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $329,000. Acadian Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $4,898,000. Westpac Banking Corp purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $523,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $132,000. 72.40% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line (NASDAQ:ODFL) traded up $2.09 during trading on Monday, reaching $147.97. The company’s stock had a trading volume of 433,300 shares, compared to its average volume of 570,092. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a twelve month low of $80.56 and a twelve month high of $148.04. The company has a market capitalization of $12,170.00, a P/E ratio of 36.45 and a beta of 1.20.

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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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