Old Dominion Freight Line, Inc. (ODFL) to Issue Quarterly Dividend of $0.29 on June 17th

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Wednesday, June 3rd will be given a dividend of 0.29 per share by the transportation company on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd.

Old Dominion Freight Line has increased its dividend by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 5 years. Old Dominion Freight Line has a dividend payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old Dominion Freight Line to earn $6.24 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 18.6%.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $225.15 on Monday. The firm has a market cap of $46.82 billion, a price-to-earnings ratio of 47.10, a price-to-earnings-growth ratio of 4.61 and a beta of 1.17. The business has a 50-day moving average price of $204.81 and a 200-day moving average price of $182.32. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share. Research analysts expect that Old Dominion Freight Line will post 5.32 EPS for the current fiscal year.

Analyst Ratings Changes

ODFL has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Old Dominion Freight Line from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Stifel Nicolaus upped their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Morgan Stanley set a $235.00 target price on Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Evercore set a $219.00 target price on Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Truist Financial set a $225.00 target price on Old Dominion Freight Line in a research report on Thursday, February 5th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.