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Old Dominion Freight Line: A Dividend Grower That Should Benefit From Lower Interest Rates
Seeking Alpha· 2024-12-20 13:00
Company Overview - Old Dominion Freight Line (NASDAQ: ODFL) has faced stock headwinds over the past year [2] Analyst Background - The contributing analyst is part of the iREIT+Hoya Capital investment group and focuses on dividend investing in quality blue-chip stocks, BDCs, and REITs [4] - The analyst is a buy-and-hold investor aiming to supplement retirement income through dividends in the next 5-7 years [4] - The analyst's goal is to help lower and middle-class workers build investment portfolios of high-quality, dividend-paying companies [4] Disclosure - The analyst has no stock, option, or derivative positions in any mentioned companies and no plans to initiate such positions within the next 72 hours [3] - The article expresses the analyst's own opinions and is not receiving compensation beyond that from Seeking Alpha [3] - The analyst has no business relationship with any company mentioned in the article [3]
Freight Technologies Announces Adjournment of Annual Meeting of Stockholders
GlobeNewswire News Room· 2024-12-12 23:04
Annual Meeting Adjournment - The 2024 Annual Meeting of Stockholders was adjourned from December 12, 2024, to December 13, 2024, to allow additional time for stockholders to vote on proposals [1] - At the time of adjournment, proxies representing 44.67% of the company's common stock had been submitted, which was insufficient to constitute a quorum [2] - During the adjournment period, the company and its proxy agent, Broadridge Financial Solutions, will continue to receive votes from stockholders [3] - Proxies already received remain valid for the adjourned meeting, and shareholders are encouraged to vote online if they have not yet done so [4] Company Overview - Freight Technologies Inc (Fr8Tech) is a logistics management innovation company offering technology-driven solutions to address challenges in the supply chain ecosystem [5] - The company's portfolio includes the Fr8App platform for cross-border shipping, Fr8Now for less-than-truckload shipping, Fr8Fleet for dedicated capacity in Mexico, and Waavely for ocean freight booking and management [5] - These interconnected solutions aim to improve matching and operational efficiency through live pricing, real-time tracking, digital freight marketplace, brokerage support, transportation management, fleet management, and committed capacity solutions [5] - The company is headquartered in Houston, Texas [5]
3 Air-Freight & Cargo Stocks to Keep an Eye On Amid Demand Woes
ZACKS· 2024-11-29 17:41
Industry Overview - The Zacks Transportation - Air Freight and Cargo industry provides air delivery and freight services, with companies offering specialized transportation, logistics, and supply-chain solutions such as freight forwarding, customs brokerage, and fulfillment [3] - The industry's performance is closely tied to the health of the economy, with leading players like FedEx transporting millions of packages daily across the globe [3] - Some companies operate both ground and air fleets, while others focus on air transportation services for passengers and cargo or cater to entities outsourcing air cargo lifting requirements [3] Key Challenges - The industry faces persistent supply-chain disruptions, a challenging macroeconomic environment with inflation-induced high interest rates, weaker-than-expected demand, and declining package volumes [1] - Economic uncertainty prevails despite signs of cooling inflation, with increased inflation readings in October and September leading to market volatility and dampening prospects for industry stocks [4] - Sluggish economic growth and inflationary pressures are likely to hurt consumer spending, negatively impacting industry participants [4] - A significant demand slowdown, particularly in Asia and Europe, is hurting shipping volumes and the results of key players like UPS, which trimmed its full-year 2024 revenue forecast to $91.1 billion from $93 billion [5][6] Positive Trends and Opportunities - Despite challenges, the industry still has growth potential, especially for operators targeting growth opportunities and operating efficiency initiatives [2] - Companies like UPS, GXO Logistics, and Air Transport Services Group are leveraging cost-cutting efforts and growth trends to their advantage [2] - With economic activities recovering from pandemic lows, more companies are allocating increasing cash piles through dividends and buybacks, reflecting financial strength and confidence [7] - UPS raised its quarterly cash dividend to $1.63 per share in 2024, with expected dividend payments of $5.4 billion for the year [7] Industry Performance and Valuation - The Zacks Air Freight and Cargo industry carries a Zacks Industry Rank 174, placing it in the bottom 30% of 250 Zacks industries [8] - The industry has underperformed the S&P 500 and the broader Transportation sector, declining 0.9% over the past year compared to the S&P 500's 31.5% rally and the sector's 11.9% appreciation [11] - Based on the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA) ratio, the industry is trading at 10.85X, lower than the S&P 500's 18.65X and the sector's 12.02X [13] - Over the past five years, the industry's EV/EBITDA ratio has ranged from 6.64X to 13.58X, with a median of 9.97X [14] Key Companies to Watch - **United Parcel Service (UPS):** The company has robust free cash flow generation, leading to increased shareholder-friendly activities like dividends and buybacks [17] - UPS's earnings surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average beat of 1.5% [18] - **GXO Logistics:** The company is strengthening its logistics capabilities, benefiting from increased e-commerce, automation, and outsourcing [20] - GXO's earnings surpassed the Zacks Consensus Estimate in two of the last four quarters, with an average miss of 0.2%, and its shares have risen 8.2% over the past year [20] - **Air Transport Services Group (ATSG):** The company is modernizing and expanding its fleet, expecting to end 2024 with 149 aircraft (129 freighters and 20 passenger planes) compared to 129 at 2023-end [23] - ATSG's earnings surpassed the Zacks Consensus Estimate in two of the last four quarters, with an average miss of 6.9% [24]
Freight Technologies' Waavely Platform Sees Early Adoption Following Successful Launch
GlobeNewswire News Room· 2024-11-11 14:05
Company Overview - Freight Technologies Inc (Fr8Tech) is a technology company specializing in AI and machine learning-driven solutions to optimize and automate supply chain processes [4] - The company offers a diverse portfolio of proprietary platform solutions, including Fr8App for cross-border shipping, Fr8Now for LTL shipping, Fr8Fleet for enterprise capacity in Mexico, and Waavely for ocean freight management [4] - Fr8Tech's solutions are interconnected within a unified platform, featuring live pricing, real-time tracking, digital freight marketplace, brokerage support, transportation management, and committed capacity solutions [4] Waavely Platform Performance - Waavely, the digital ocean freight platform launched in July 2024, has secured four active customers within a short period, demonstrating strong early demand and adoption [1] - The platform's success highlights the shipping industry's need for greater control, agility, and transparency in ocean freight logistics [3] - Waavely is designed to improve operational efficiency, reduce costs, and provide real-time visibility for maritime logistics [3] Growth Strategy - Fr8Tech's marketing strategy focuses on increasing volume with existing clients and acquiring new customers for the Waavely platform [2] - The company is actively evolving and expanding Waavely's service capabilities based on feedback from existing customers and prospects [2] - Fr8Tech plans to scale the platform by bringing in additional ocean carriers, logistics providers, and shippers to meet growing industry demands [2] Industry Impact - The rapid adoption of Waavely underscores the shipping industry's demand for innovative solutions that address challenges in ocean freight logistics [3] - Fr8Tech's portfolio of solutions, including Waavely, aims to significantly improve matching and operational efficiency through advanced technologies [4]
Qantas Freight Joins Freightos, Expanding Trans-Pacific Capacity on Key US, Australia and New Zealand Routes
Prnewswire· 2024-11-05 12:00
BARCELONA, Spain, Nov. 5, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO) a leading, vendor-neutral booking and payment platform for the international freight industry, is proud to announce that Qantas Freight, the cargo division of Australia's national carrier Qantas, has joined its air cargo booking platform. This will enable freight forwarders to search, compare and book capacity across Freightos' WebCargo and 7LFreight by WebCargo platforms for all Qantas and Jetstar services between the US, Austr ...
South Africa Freight Forwarding Industry Report 2024, with Profiles of 22 Players Including DHL, DSV South Africa, Megafreight Services, Rohlig-Grindrod, Safcor Freight and Santova Logistics
GlobeNewswire News Room· 2024-11-05 09:16
Dublin, Nov. 05, 2024 (GLOBE NEWSWIRE) -- The "Freight Forwarding Industry in South Africa 2024" report has been added to ResearchAndMarkets.com's offering. This report on freight forwarders, who arrange the shipment of goods from origin to destination, includes information on the state of the industry with updates on trade volumes, key trends and issues, notable players and corporate actions. There is also information on international players and trends, and influencing factors such as the logistics crisi ...
Titanium Transportation Opens its 8th US Freight Brokerage Office in Virginia
GlobeNewswire News Room· 2024-11-04 23:46
BOLTON, Ontario, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. (“Titanium” or the “Company”) (TSX:TTNM, OTCQX:TTNMF), a leading provider of transportation and logistics services throughout North America, today announced that it continues to implement its strategic plan to increase its North American footprint by opening a new freight brokerage office in Virginia Beach, VA – the Company’s 8th such US location. Ted Daniel, Chief Executive Officer, Titanium Transportation Group noted, “E ...
Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock
Benzinga· 2024-10-18 17:12
Old Dominion Freight Line, Inc. ODFL shares are trading slightly lower on Friday. BMO Capital Markets analyst Fadi Chamoun downgraded the company to Market Perform from Outperform and lowered the price target to $210 from $214. The analyst writes that consensus/BMOe F2025 earnings expectations have decreased by 13%/15%. Demand remains muted, and the timeline for a recovery in freight markets continues to be delayed. The downgrade reflects anticipation of further negative revisions as the recovery timeline f ...
Union Pacific Banks on Dividends Amid Freight Challenges
ZACKS· 2024-10-11 14:25
Union Pacific's (UNP) operational efficiency is bolstered by its proactive initiatives to integrate technology into its operations. Shareholder-friendly initiatives bode well for the company. However, UNP is grappling with geopolitical uncertainties and high inflation. Factors Favoring UNP UNP is cultivating a tech-savvy culture by utilizing advanced technology to improve safety and efficiency. Moreover, inspections by its engineering team using autonomous equipment have allowed it to cover significant addi ...
Freight Technologies Regains Compliance with Nasdaq Listing Requirements
GlobeNewswire News Room· 2024-10-10 13:05
HOUSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, "Fr8Tech" or the "Company"), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced that on October 9, 2024 it received written notice from the Listing Qualifications Staff of the Nasdaq Stock Market ("Nasdaq") stating that the Company regained compliance with the minimum bid price requirement ...