Zacks Research Has Negative Outlook of ODFL FY2024 Earnings

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – Investment analysts at Zacks Research lowered their FY2024 EPS estimates for Old Dominion Freight Line in a research note 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 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 posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue was down 3.0% on a year-over-year basis.

Several other brokerages have also recently weighed in on ODFL. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. The Goldman Sachs Group decreased their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Citigroup boosted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday. Susquehanna lowered their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, fifteen have assigned 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, the stock currently has an average rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Stock Down 3.5 %

ODFL opened at $215.57 on Friday. The firm has a market cap of $46.02 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm’s 50-day simple moving average is $201.32 and its 200-day simple moving average is $191.23. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after buying an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares during the last quarter. State Street Corp lifted its stake in Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Old Dominion Freight Line by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after purchasing an additional 270,538 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of the business’s 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last 90 days. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Dividend Announcement

The business 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

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.