Research Analysts Offer Predictions for ODFL FY2024 Earnings

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – Stock analysts at Zacks Research reduced their FY2024 EPS estimates for Old Dominion Freight Line in a research report issued on Wednesday, November 13th. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings per share of $5.47 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.

ODFL has been the topic of a number of other reports. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Stephens reissued an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Citigroup lifted their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Barclays boosted their target price on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $215.57 on Friday. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26. The stock has a market capitalization of $46.02 billion, a P/E ratio of 37.69, a P/E/G ratio of 6.36 and a beta of 0.99. The firm’s 50 day moving average is $201.32 and its 200-day moving average is $191.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year.

Institutional Inflows and Outflows

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

Insider Buying and Selling at Old Dominion Freight Line

In related 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 value of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock worth $10,062,478 over the last three months. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Announces Dividend

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

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.