Equities Analysts Offer Predictions for ODFL FY2024 Earnings

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) - Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for Old Dominion Freight Line in a report issued on Wednesday, November 13th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $5.47 per share for the year, down from their previous estimate 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.

A number of other equities analysts have also recently issued reports on ODFL. Barclays raised their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday. BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Evercore ISI dropped their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research report on Thursday, October 3rd. Finally, Stephens reaffirmed an "overweight" rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $200.00.

Old Dominion Freight Line Trading Down 3.5 %

ODFL traded down $7.86 during midday trading on Friday, reaching $215.57. 1,683,157 shares of the company were exchanged, compared to its average volume of 1,550,592. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26. The stock has a market capitalization of $46.02 billion, a P/E ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99. The stock's 50-day simple moving average is $201.32 and its 200 day simple moving average is $191.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the business earned $1.54 earnings per share. The company's revenue was down 3.0% compared to the same quarter last year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling

In related news, Director Leo H. Suggs sold 3,000 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares of the company's stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 in the last ninety days. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently added to or reduced their stakes in the business. M&T Bank Corp grew its stake in Old Dominion Freight Line by 2.1% in the third quarter. M&T Bank Corp now owns 25,329 shares of the transportation company's stock valued at $5,031,000 after acquiring an additional 520 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Old Dominion Freight Line by 7.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 86,772 shares of the transportation company's stock valued at $17,236,000 after purchasing an additional 5,957 shares in the last quarter. Zacks Investment Management lifted its holdings in shares of Old Dominion Freight Line by 60.0% in the third quarter. Zacks Investment Management now owns 8,906 shares of the transportation company's stock valued at $1,769,000 after purchasing an additional 3,340 shares in the last quarter. National Bank of Canada FI lifted its holdings in Old Dominion Freight Line by 350.7% during the third quarter. National Bank of Canada FI now owns 319,596 shares of the transportation company's stock worth $63,485,000 after acquiring an additional 248,682 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after acquiring an additional 750,073 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Company Profile

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.