Equities Analysts Issue Forecasts for ODFL FY2024 Earnings

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – Research analysts at Zacks Research cut their FY2024 EPS estimates for Old Dominion Freight Line in a research note issued on Wednesday, November 13th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $5.47 per share for the year, down from their previous forecast of $5.69. The consensus estimate for Old Dominion Freight Line’s current full-year earnings is $5.46 per share. Zacks Research also issued estimates for Old Dominion Freight Line’s Q4 2024 earnings at $1.22 EPS, Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $1.55 EPS, Q3 2025 earnings at $1.55 EPS, Q4 2025 earnings at $1.58 EPS, FY2025 earnings at $5.93 EPS, Q1 2026 earnings at $1.34 EPS, Q3 2026 earnings at $1.84 EPS and FY2026 earnings at $6.84 EPS.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis.

Several other equities analysts also recently commented on ODFL. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. TD Cowen lowered their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Raymond James raised their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Stock Down 1.0 %

ODFL stock opened at $223.43 on Friday. The firm has a 50-day moving average price of $200.71 and a 200-day moving average price of $191.02. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $47.70 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $25,000. Atwood & Palmer Inc. increased its position in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares during the last quarter. LRI Investments LLC raised its stake in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after purchasing an additional 79 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth about $38,000. 77.82% of the stock is owned by institutional investors.

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.