Old Dominion Freight Line, Inc. (ODFL) to Issue Quarterly Dividend of $0.28 on March 19th

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 paid a dividend of 0.28 per share by the transportation company on Wednesday, March 19th. This represents a $1.12 annualized dividend 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 payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Old Dominion Freight Line stock opened at $195.88 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $233.26. The stock’s 50 day moving average price is $190.65 and its two-hundred day moving average price is $197.69. The stock has a market capitalization of $41.82 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 4.95 and a beta of 1.05.

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, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. On average, equities analysts predict that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group raised their target price on 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. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday. Robert W. Baird dropped their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $203.33.

About Old Dominion Freight Line

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.