Old Dominion Freight Line (NASDAQ:ODFL) Issues Quarterly Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) released its quarterly earnings results on Wednesday. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03, Briefing.com reports. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS.

Old Dominion Freight Line Stock Up 6.6 %

NASDAQ ODFL traded up $12.81 on Thursday, reaching $207.43. 2,232,945 shares of the stock traded hands, compared to its average volume of 1,615,600. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The company has a fifty day moving average price of $179.40 and a 200-day moving average price of $198.68. The company has a market cap of $45.07 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.55 and a beta of 1.00. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

Several equities analysts have weighed in on ODFL shares. BMO Capital Markets raised their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley lowered their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Susquehanna lowered their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, June 12th. Bank of America raised their price objective on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $201.97.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.