Zacks Research Issues Pessimistic Forecast for ODFL Earnings

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

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 EPS.

A number of other research analysts have also weighed in on the stock. Raymond James lifted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. TD Cowen reduced their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $223.43 on Friday. The firm has a market cap of $47.70 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $200.71 and its 200-day moving average is $191.02. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.47%. Old Dominion Freight Line’s payout ratio is 18.18%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was 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 valued at $10,062,478 over the last 90 days. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH bought a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $4,402,000. Wasatch Advisors LP grew its holdings in shares of Old Dominion Freight Line by 12.0% in the third quarter. Wasatch Advisors LP now owns 6,885 shares of the transportation company’s stock worth $1,368,000 after purchasing an additional 740 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $7,874,000. Captrust Financial Advisors increased its stake in shares of Old Dominion Freight Line by 1.7% in the third quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock worth $1,490,000 after buying an additional 124 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its position in Old Dominion Freight Line by 7.7% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 16,573 shares of the transportation company’s stock valued at $3,292,000 after buying an additional 1,184 shares during the period. 77.82% of the stock is owned by institutional investors.

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.