Old Dominion Freight Line (NASDAQ:ODFL) Announces Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) posted its earnings results on Wednesday. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01, Briefing.com reports. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 earnings per share.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded up $0.71 during trading on Thursday, hitting $189.38. 177,728 shares of the stock traded hands, compared to its average volume of 1,543,624. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. The firm has a 50-day simple moving average of $195.69 and a 200-day simple moving average of $190.84. The company has a market capitalization of $41.15 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 4.18 and a beta of 0.99.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given 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 0.55%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ODFL shares. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Barclays dropped their target price on Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday. Bank of America reduced their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Morgan Stanley lowered their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Finally, Citigroup started coverage on shares of Old Dominion Freight Line in a report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $198.06.

Insider Activity at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

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.