Old Dominion Freight Line (ODFL) Posts Earnings Results, Beats Expectations By $0.01 EPS

Old Dominion Freight Line (NASDAQ:ODFL) issued its quarterly earnings data on Thursday. The transportation company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01, Morningstar.com reports. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The firm had revenue of $891.12 million for the quarter, compared to analysts’ expectations of $879.00 million. During the same quarter in the prior year, the business earned $0.83 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis.

Old Dominion Freight Line (ODFL) traded down $2.79 during mid-day trading on Friday, hitting $128.92. 506,769 shares of the company were exchanged, compared to its average volume of 618,678. Old Dominion Freight Line has a 1 year low of $80.56 and a 1 year high of $150.31. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $11,698.21, a price-to-earnings ratio of 32.40 and a beta of 1.22.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be issued a $0.13 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 9.85%.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $117.00 price objective (up previously from $111.00) on shares of Old Dominion Freight Line in a research note on Wednesday, December 13th. Seaport Global Securities reiterated a “buy” rating on shares of Old Dominion Freight Line in a research note on Tuesday, December 5th. KeyCorp reiterated a “buy” rating and issued a $115.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. Credit Suisse Group reiterated a “buy” rating and issued a $142.00 price objective (up previously from $128.00) on shares of Old Dominion Freight Line in a research note on Wednesday, December 6th. Finally, Zacks Investment Research cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $122.08.

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. PNC Financial Services Group Inc. boosted its stake in Old Dominion Freight Line by 0.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock worth $534,000 after buying an additional 49 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of Old Dominion Freight Line by 4.8% during the second quarter. Parametric Portfolio Associates LLC now owns 94,856 shares of the transportation company’s stock worth $9,034,000 after purchasing an additional 4,354 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Old Dominion Freight Line by 164.0% during the second quarter. Renaissance Technologies LLC now owns 128,627 shares of the transportation company’s stock worth $12,250,000 after purchasing an additional 79,900 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Old Dominion Freight Line during the second quarter worth $233,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Old Dominion Freight Line by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 102,304 shares of the transportation company’s stock worth $9,743,000 after purchasing an additional 1,729 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

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About Old Dominion Freight Line

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.

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

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