Old Dominion Freight Line (NASDAQ:ODFL) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Old Dominion Freight Line reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by $0.02.
• The company's revenue of $1.41 billion fell short of expectations of $1.43 billion and decreased by 6.1% compared to the same quarter last year.
• A quarterly dividend of $0.28 was announced, with an annualized yield of 0.76% scheduled for payment on September 17th.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) announced its quarterly earnings results on Wednesday. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02), Zacks reports. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm posted $1.48 EPS. The company's revenue was down 6.1% compared to the same quarter last year.

Old Dominion Freight Line Stock Performance

ODFL stock traded down $6.70 during trading on Friday, hitting $142.55. The company had a trading volume of 1,102,549 shares, compared to its average volume of 1,835,698. The firm has a market cap of $30.12 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.97 and a beta of 1.25. The company has a quick ratio of 1.32, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $162.61 and a 200-day moving average price of $169.02. Old Dominion Freight Line has a 1-year low of $142.72 and a 1-year high of $233.26.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.01%.

Hedge Funds Weigh In On Old Dominion Freight Line

A hedge fund recently raised its stake in Old Dominion Freight Line stock. Brighton Jones LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.3% in the 4th quarter, according to its most recent 13F 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 at the end of the most recent quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of analyst reports. Benchmark reaffirmed a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Jefferies Financial Group reduced their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. TD Cowen reduced their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, UBS Group decreased their price objective on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $168.38.

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.