Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Announces Quarterly Dividend of $0.28

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors of record on Wednesday, March 5th will be given a dividend of 0.28 per share by the transportation company on Wednesday, March 19th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26.

Old Dominion Freight Line has raised its dividend payment by an average of 37.5% annually over the last three years. Old Dominion Freight Line has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Old Dominion Freight Line to earn $5.76 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 18.1%.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $195.88 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $41.82 billion, a P/E ratio of 34.24, a PEG ratio of 4.95 and a beta of 1.05. The company has a 50-day moving average of $190.65 and a two-hundred day moving average of $197.69. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. As a group, research analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research reports. Jefferies Financial Group boosted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Bank of America reduced their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, TD Cowen decreased their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $203.33.

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.