Zacks: Analysts Expect Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Will Post Quarterly Sales of $1.63 Billion

Brokerages expect Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) to post $1.63 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Old Dominion Freight Line’s earnings. The highest sales estimate is $1.69 billion and the lowest is $1.58 billion. Old Dominion Freight Line posted sales of $1.32 billion in the same quarter last year, which suggests a positive year over year growth rate of 23.5%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year sales of $6.40 billion for the current year, with estimates ranging from $6.21 billion to $6.73 billion. For the next year, analysts anticipate that the business will report sales of $6.86 billion, with estimates ranging from $6.48 billion to $7.51 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its earnings results on Wednesday, April 27th. The transportation company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.23. Old Dominion Freight Line had a return on equity of 32.41% and a net margin of 20.17%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The company’s quarterly revenue was up 32.9% on a year-over-year basis.

ODFL has been the subject of several recent analyst reports. Susquehanna Bancshares upped their target price on Old Dominion Freight Line from $275.00 to $285.00 in a research note on Thursday, April 28th. Raymond James cut their target price on Old Dominion Freight Line from $365.00 to $305.00 and set an “outperform” rating for the company in a research note on Wednesday, April 20th. Susquehanna upped their target price on Old Dominion Freight Line from $275.00 to $285.00 in a research note on Thursday, April 28th. Stifel Nicolaus upped their price target on shares of Old Dominion Freight Line from $320.00 to $335.00 in a report on Thursday, February 10th. Finally, Bank of America upped their price target on shares of Old Dominion Freight Line from $300.00 to $304.00 and gave the stock an “underperform” rating in a report on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $303.89.

NASDAQ ODFL traded up $3.47 on Monday, hitting $273.12. 834,083 shares of the company’s stock were exchanged, compared to its average volume of 1,075,121. The stock has a 50-day moving average of $288.49 and a 200-day moving average of $316.50. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03. Old Dominion Freight Line has a 52 week low of $245.56 and a 52 week high of $373.58. The stock has a market cap of $30.96 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 1.39 and a beta of 1.03.

Institutional investors have recently modified their holdings of the business. Moors & Cabot Inc. grew its holdings in Old Dominion Freight Line by 1,988.6% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the transportation company’s stock worth $26,000 after acquiring an additional 23,803 shares during the period. Tcwp LLC acquired a new stake in Old Dominion Freight Line during the 1st quarter worth about $26,000. Ancora Advisors LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $29,000. Carroll Financial Associates Inc. bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $29,000. Finally, CVA Family Office LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 77.86% of the company’s stock.

Old Dominion Freight Line Company Profile (Get Rating)

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.

Recommended Stories

Get a free copy of the Zacks research report on Old Dominion Freight Line (ODFL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.