ArcBest Corp (NASDAQ:ARCB) – Equities researchers at Seaport Global Securities boosted their FY2018 earnings estimates for shares of ArcBest in a report issued on Monday, November 5th. Seaport Global Securities analyst W. Milby now forecasts that the transportation company will earn $3.76 per share for the year, up from their prior forecast of $3.21. Seaport Global Securities also issued estimates for ArcBest’s Q4 2018 earnings at $0.91 EPS and FY2019 earnings at $3.90 EPS.
ARCB has been the topic of a number of other research reports. Loop Capital started coverage on shares of ArcBest in a research report on Monday, October 1st. They issued a “hold” rating and a $47.00 price target on the stock. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Bank of America downgraded shares of ArcBest from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $50.00 to $38.00 in a research note on Tuesday, October 30th. Morgan Stanley raised their price objective on shares of ArcBest from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, November 5th. Finally, Cowen restated a “hold” rating and issued a $49.00 price objective on shares of ArcBest in a research note on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. ArcBest currently has an average rating of “Hold” and an average target price of $44.33.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Thursday, November 1st. The transportation company reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.32. ArcBest had a net margin of 2.92% and a return on equity of 12.98%. The company had revenue of $826.20 million for the quarter, compared to analyst estimates of $815.82 million. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in ARCB. WINTON GROUP Ltd acquired a new stake in shares of ArcBest in the second quarter worth $9,675,000. Millennium Management LLC boosted its stake in ArcBest by 182.9% during the second quarter. Millennium Management LLC now owns 321,094 shares of the transportation company’s stock worth $14,674,000 after buying an additional 207,604 shares in the last quarter. BlackRock Inc. boosted its stake in ArcBest by 6.2% during the second quarter. BlackRock Inc. now owns 3,555,928 shares of the transportation company’s stock worth $162,507,000 after buying an additional 206,629 shares in the last quarter. Chicago Equity Partners LLC boosted its stake in ArcBest by 200.9% during the second quarter. Chicago Equity Partners LLC now owns 217,510 shares of the transportation company’s stock worth $9,940,000 after buying an additional 145,230 shares in the last quarter. Finally, LSV Asset Management boosted its stake in ArcBest by 123.3% during the second quarter. LSV Asset Management now owns 261,300 shares of the transportation company’s stock worth $11,941,000 after buying an additional 144,300 shares in the last quarter. Institutional investors and hedge funds own 94.16% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.80%. ArcBest’s payout ratio is 24.06%.
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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