Equities analysts expect that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will post sales of $854.04 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Old Dominion Freight Line’s earnings. The lowest sales estimate is $846.60 million and the highest is $860.90 million. Old Dominion Freight Line reported sales of $782.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The firm is expected to announce its next earnings results on Thursday, October 26th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full-year sales of $854.04 million for the current year, with estimates ranging from $3.23 billion to $3.28 billion. For the next fiscal year, analysts expect that the business will report sales of $3.52 billion per share, with estimates ranging from $3.43 billion to $3.59 billion. Zacks’ 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 issued its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.09. The firm had revenue of $839.90 million for the quarter, compared to the consensus estimate of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share.

A number of analysts have recently weighed in on the stock. BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Vertical Research reiterated a “hold” rating and issued a $83.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, July 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 target price (up from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, Deutsche Bank AG cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their target price for the stock from $108.00 to $98.00 in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $97.67.

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Large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in shares of Old Dominion Freight Line by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the transportation company’s stock valued at $1,497,000 after buying an additional 400 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $975,000. Bank of Montreal Can raised its stake in shares of Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock valued at $3,469,000 after buying an additional 36,224 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $166,000. Finally, LS Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line by 17.3% in the second quarter. LS Investment Advisors LLC now owns 6,365 shares of the transportation company’s stock valued at $606,000 after buying an additional 939 shares during the last quarter. 75.07% of the stock is owned by institutional investors.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 97.06 on Thursday. Old Dominion Freight Line has a 52 week low of $66.33 and a 52 week high of $103.51. The company has a market cap of $7.99 billion, a P/E ratio of 25.14 and a beta of 1.08. The stock has a 50 day moving average of $96.56 and a 200 day moving average of $90.41.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.39%.

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.

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

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