What is Zacks Research’s Forecast for ODFL FY2024 Earnings?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of 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 prior estimate 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 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 net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis.

ODFL has been the topic of several other research reports. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Barclays increased their price target 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. Finally, Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the company from $209.00 to $197.00 in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Trading Down 3.5 %

Old Dominion Freight Line stock opened at $215.57 on Friday. The company has a market cap of $46.02 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 6.36 and a beta of 0.99. The firm has a 50-day moving average of $201.32 and a 200-day moving average of $191.30. 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 has a one year low of $165.49 and a one year high of $233.26.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its stake in Old Dominion Freight Line by 59.0% during 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 during the last quarter. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after buying an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock worth $242,021,000 after acquiring an additional 815,817 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock valued at $10,062,478 in the last quarter. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. 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.