ArcBest Corp (NASDAQ:ARCB) Expected to Post Earnings of $1.06 Per Share

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Wall Street analysts expect ArcBest Corp (NASDAQ:ARCB) to post earnings of $1.06 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for ArcBest’s earnings. The highest EPS estimate is $1.28 and the lowest is $0.90. ArcBest posted earnings per share of $1.44 during the same quarter last year, which would indicate a negative year over year growth rate of 26.4%. The business is expected to issue its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that ArcBest will report full-year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.50 to $3.30. For the next fiscal year, analysts expect that the business will post earnings of $3.20 per share, with EPS estimates ranging from $2.80 to $3.55. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow ArcBest.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, July 30th. The transportation company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.03). The firm had revenue of $771.50 million during the quarter, compared to analysts’ expectations of $779.07 million. ArcBest had a net margin of 2.77% and a return on equity of 13.11%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of ArcBest from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Mizuho restated a “buy” rating and set a $38.00 price target on shares of ArcBest in a research report on Tuesday, July 2nd. Citigroup reduced their price target on shares of ArcBest from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. TheStreet upgraded shares of ArcBest from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Finally, Morgan Stanley set a $36.00 price target on shares of ArcBest and gave the company a “hold” rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. ArcBest presently has an average rating of “Hold” and a consensus target price of $35.13.

Shares of ARCB stock traded up $0.52 on Monday, hitting $30.69. The stock had a trading volume of 319,887 shares, compared to its average volume of 180,159. The business has a 50 day moving average of $29.22 and a 200 day moving average of $29.33. The stock has a market cap of $777.86 million, a price-to-earnings ratio of 7.95 and a beta of 1.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.38 and a quick ratio of 1.38. ArcBest has a 12-month low of $24.68 and a 12-month high of $50.34.

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.32 annualized dividend and a yield of 1.04%. ArcBest’s payout ratio is currently 8.29%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in ArcBest by 30.5% during the first quarter. Victory Capital Management Inc. now owns 6,915 shares of the transportation company’s stock valued at $213,000 after buying an additional 1,615 shares during the period. Globeflex Capital L P boosted its position in ArcBest by 1.6% during the first quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock worth $856,000 after purchasing an additional 439 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in ArcBest during the first quarter worth about $435,000. First Trust Advisors LP boosted its position in ArcBest by 26.3% during the second quarter. First Trust Advisors LP now owns 78,896 shares of the transportation company’s stock worth $2,218,000 after purchasing an additional 16,417 shares during the period. Finally, Hillcrest Asset Management LLC boosted its position in ArcBest by 35.6% during the first quarter. Hillcrest Asset Management LLC now owns 352,919 shares of the transportation company’s stock worth $10,866,000 after purchasing an additional 92,655 shares during the period. Institutional investors own 93.45% of the company’s stock.

About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Earnings History and Estimates for ArcBest (NASDAQ:ARCB)

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