Old Dominion Freight Line (NASDAQ:ODFL) announced a quarterly dividend on Tuesday, July 31st, Wall Street Journal reports. Investors of record on Thursday, September 6th will be paid a dividend of 0.13 per share by the transportation company on Thursday, September 20th. This represents a $0.52 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Wednesday, September 5th.

Old Dominion Freight Line has a dividend payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old Dominion Freight Line to earn $7.64 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 6.8%.

Shares of Old Dominion Freight Line stock opened at $153.17 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77. Old Dominion Freight Line has a twelve month low of $96.33 and a twelve month high of $164.10. The firm has a market cap of $12.23 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.17. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.19 EPS. The firm’s revenue was up 23.1% on a year-over-year basis. sell-side analysts expect that Old Dominion Freight Line will post 6.85 earnings per share for the current year.

Old Dominion Freight Line announced that its Board of Directors has authorized a share repurchase program on Thursday, May 17th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the transportation company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

A number of research firms have weighed in on ODFL. BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Cowen upped their price objective on shares of Old Dominion Freight Line from $145.00 to $156.00 and gave the company a “market perform” rating in a research report on Friday, July 27th. Bank of America upped their price objective on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the company an “underperform” rating in a research report on Thursday. Buckingham Research upped their price objective on shares of Old Dominion Freight Line from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Finally, ValuEngine cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $147.38.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Dividend History for Old Dominion Freight Line (NASDAQ:ODFL)

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