Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Announces Quarterly Dividend of $0.28

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Wednesday, September 3rd will be paid a dividend of 0.28 per share by the transportation company on Wednesday, September 17th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, September 3rd.

Old Dominion Freight Line has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Old Dominion Freight Line to earn $6.69 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 16.7%.

Old Dominion Freight Line Stock Down 0.4%

NASDAQ ODFL traded down $0.70 on Friday, hitting $167.09. 1,747,264 shares of the stock traded hands, compared to its average volume of 1,615,868. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $163.55 and a 200 day moving average of $169.60. Old Dominion Freight Line has a twelve month low of $144.90 and a twelve month high of $233.26. The company has a market capitalization of $35.31 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 3.37 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business posted $1.34 earnings per share. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ODFL. Bank of America boosted their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. UBS Group lowered their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $174.85.

Institutional Trading of Old Dominion Freight Line

A hedge fund recently raised its stake in Old Dominion Freight Line stock. Brighton Jones LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,559 shares of the transportation company's stock after buying an additional 79 shares during the quarter. Brighton Jones LLC's holdings in Old Dominion Freight Line were worth $275,000 as of its most recent SEC filing. 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.