Old Dominion Freight Line (NASDAQ:ODFL) declared a quarterly dividend on Thursday, May 16th, RTT News reports. Investors of record on Wednesday, June 5th will be paid a dividend of 0.17 per share by the transportation company on Wednesday, June 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.46%.
Old Dominion Freight Line has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Dominion Freight Line to earn $8.54 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 8.0%.
Shares of ODFL traded up $2.27 during trading hours on Thursday, reaching $146.56. The stock had a trading volume of 61,882 shares, compared to its average volume of 506,057. Old Dominion Freight Line has a 12 month low of $115.00 and a 12 month high of $170.22. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.02. The stock has a market cap of $11.74 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.07 and a beta of 1.43.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The company had revenue of $990.78 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the business earned $1.33 EPS. Old Dominion Freight Line’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Old Dominion Freight Line will post 7.97 EPS for the current year.
A number of equities research analysts recently commented on ODFL shares. Zacks Investment Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. KeyCorp increased their price target on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 8th. Citigroup increased their price target on Old Dominion Freight Line from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Cowen increased their price target on Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a research report on Thursday, February 7th. Finally, BidaskClub raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $149.20.
In other news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the sale, the senior vice president now directly owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 11.90% of the company’s stock.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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