Zacks: Brokerages Expect Old Dominion Freight Line (ODFL) to Post $1.95 EPS

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Wall Street analysts predict that Old Dominion Freight Line (NASDAQ:ODFL) will report $1.95 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Old Dominion Freight Line’s earnings, with estimates ranging from $1.88 to $2.00. Old Dominion Freight Line reported earnings per share of $1.24 in the same quarter last year, which would indicate a positive year-over-year growth rate of 57.3%. The company is expected to report its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year earnings of $6.89 per share for the current fiscal year, with EPS estimates ranging from $6.60 to $7.15. For the next financial year, analysts anticipate that the firm will post earnings of $7.67 per share, with EPS estimates ranging from $7.30 to $8.20. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.17. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year.

ODFL has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the company an “underperform” rating in a report on Thursday, August 30th. Argus initiated coverage on shares of Old Dominion Freight Line in a report on Wednesday, May 23rd. They set a “buy” rating and a $175.00 price objective on the stock. BidaskClub downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Buckingham Research upped their price objective on shares of Old Dominion Freight Line from $155.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $147.38.

Shares of ODFL traded up $4.29 during mid-day trading on Friday, hitting $158.78. 760,200 shares of the company traded hands, compared to its average volume of 602,739. Old Dominion Freight Line has a 1-year low of $99.39 and a 1-year high of $164.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.02. The company has a market cap of $12.50 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.20.

Old Dominion Freight Line declared that its Board of Directors has authorized a stock buyback program on Thursday, May 17th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the transportation company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, September 6th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, September 5th. This represents a $0.52 annualized dividend and a yield of 0.33%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.93%.

A number of large investors have recently modified their holdings of the stock. Financial Counselors Inc. increased its holdings in Old Dominion Freight Line by 4.1% in the 2nd quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock worth $1,384,000 after buying an additional 363 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Old Dominion Freight Line by 5.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 7,370 shares of the transportation company’s stock worth $1,098,000 after purchasing an additional 363 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Old Dominion Freight Line by 0.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock worth $10,528,000 after purchasing an additional 370 shares during the period. Alps Advisors Inc. grew its stake in shares of Old Dominion Freight Line by 5.0% during the 2nd quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock worth $1,199,000 after purchasing an additional 381 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Old Dominion Freight Line by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the transportation company’s stock worth $2,741,000 after purchasing an additional 400 shares during the period. Institutional investors own 72.37% 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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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