Zacks Research Upgrades Old Dominion Freight Line Earnings Forecast

Research analysts at Zacks Research have revised their earnings per share (EPS) estimates for Old Dominion Freight Line, Inc. (NASDAQ: ODFL), projecting a promising outlook for the company’s upcoming financial results. In a report issued on November 19, Zacks analysts predict that the transportation firm will achieve earnings of $1.70 per share for the third quarter of 2027, a notable increase from their previous estimate of $1.66.

Zacks Research maintains a “Hold” rating on Old Dominion’s stock, while the consensus estimate for the company’s total earnings for the current financial year stands at $5.68 per share. This positive adjustment reflects growing confidence in the company’s financial resilience.

Recent Earnings Performance

Old Dominion Freight Line recently reported its quarterly earnings on October 29, revealing an EPS of $1.28. This figure surpassed the consensus estimate of $1.22 by $0.06. The company recorded revenue of $1.41 billion for the quarter, aligning precisely with analysts’ expectations, although this reflects a 4.3% decline year-over-year.

Despite the revenue dip, Old Dominion’s impressive return on equity stands at 24.92%, bolstered by a net margin of 18.97%. These metrics highlight the company’s operational efficiency and profitability, even in a challenging market environment.

Stock Performance and Dividend Announcement

As of Friday, shares of Old Dominion opened at $134.28. The stock has seen fluctuations, with a 50-day moving average of $138.41 and a 200-day moving average of $151.71. The company’s market capitalization is currently valued at $28.08 billion. Its price-to-earnings (P/E) ratio is reported at 27.02, and it has a beta of 1.22.

Old Dominion also announced a quarterly dividend of $0.28 per share, scheduled for payment on December 17. Shareholders on record as of December 3 will qualify for this dividend, which translates to an annualized total of $1.12 and a yield of 0.8%. The company has a dividend payout ratio of 22.54%.

Recent institutional trading indicates increased interest in Old Dominion Freight Line. Notable transactions include CIBC Bancorp USA Inc. acquiring a new stake worth approximately $4,702,000, and Avity Investment Management Inc. raising its stake by 267.6%, now holding 70,959 shares valued at about $9,990,000.

Overall, approximately 77.82% of Old Dominion’s stock is currently held by institutional investors, reflecting strong confidence in the company’s future.

Founded as a less-than-truckload motor carrier, Old Dominion Freight Line provides regional, inter-regional, and national shipping services throughout the United States and North America. The company also offers expedited transportation and various value-added services, including container drayage and supply chain consulting.