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

Wall Street analysts expect ArcBest Corp (NASDAQ:ARCB) to post earnings of $1.06 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for ArcBest’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $1.28. ArcBest posted earnings of $1.44 per share in the same quarter last year, which suggests a negative year over year growth rate of 26.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 7th.

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

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.03). The business had revenue of $771.50 million for the quarter, compared to analysts’ expectations of $779.07 million. ArcBest had a return on equity of 13.11% and a net margin of 2.77%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS.

ARCB has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded ArcBest from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. TheStreet upgraded ArcBest from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Citigroup lowered their price target on ArcBest from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Cowen upgraded ArcBest from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. ArcBest has a consensus rating of “Hold” and a consensus target price of $36.63.

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 1,615 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of ArcBest by 1.6% during the first quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock valued at $856,000 after acquiring an additional 439 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of ArcBest during the first quarter valued at approximately $435,000. Hillcrest Asset Management LLC raised its holdings in shares of ArcBest by 35.6% during the first quarter. Hillcrest Asset Management LLC now owns 352,919 shares of the transportation company’s stock valued at $10,866,000 after acquiring an additional 92,655 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new position in shares of ArcBest during the first quarter valued at approximately $1,913,000. 93.45% of the stock is owned by institutional investors and hedge funds.

ARCB stock traded down $0.01 during mid-day trading on Monday, reaching $31.21. 185,965 shares of the company’s stock were exchanged, compared to its average volume of 180,599. The company has a market cap of $801.59 million, a price-to-earnings ratio of 8.09 and a beta of 1.98. The stock’s 50 day moving average is $29.09 and its 200 day moving average is $29.43. 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 company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. ArcBest’s payout ratio is currently 8.29%.

ArcBest Company Profile

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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