Old Dominion Freight Line (NASDAQ:ODFL) Issues Earnings Results, Beats Expectations By $0.01 EPS

Old Dominion Freight Line (NASDAQ:ODFL) posted its quarterly 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. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year.

Old Dominion Freight Line Trading Up 1.3 %

Shares of NASDAQ:ODFL traded up $2.45 during trading on Thursday, hitting $191.12. 367,524 shares of the company’s stock were exchanged, compared to its average volume of 1,544,372. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $41.53 billion, a P/E ratio of 33.65, a PEG ratio of 4.18 and a beta of 0.99. The firm has a 50-day moving average price of $195.69 and a two-hundred day moving average price of $190.84. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Analyst Ratings Changes

Several equities analysts recently commented on ODFL shares. TD Cowen cut their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Morgan Stanley reduced their target price on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Raymond James lifted their price target 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $197.50.

Insider Activity at Old Dominion Freight Line

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