Brokerages expect ArcBest Corp (NASDAQ:ARCB) to post $714.47 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ArcBest’s earnings, with estimates ranging from $706.20 million to $719.50 million. ArcBest posted sales of $774.28 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7.7%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, January 30th.
On average, analysts expect that ArcBest will report full-year sales of $2.99 billion for the current year, with estimates ranging from $2.98 billion to $3.00 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.03 billion, with estimates ranging from $2.99 billion to $3.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow ArcBest.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.15. ArcBest had a net margin of 2.00% and a return on equity of 11.27%. The firm had revenue of $787.56 million for the quarter, compared to analyst estimates of $797.16 million. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in ArcBest by 0.4% during the second quarter. BlackRock Inc. now owns 3,763,154 shares of the transportation company’s stock worth $105,782,000 after buying an additional 13,182 shares during the last quarter. Northern Trust Corp increased its holdings in shares of ArcBest by 2.3% in the second quarter. Northern Trust Corp now owns 527,250 shares of the transportation company’s stock valued at $14,820,000 after purchasing an additional 11,616 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of ArcBest in the second quarter valued at $11,612,000. D. E. Shaw & Co. Inc. increased its holdings in shares of ArcBest by 33.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 395,122 shares of the transportation company’s stock valued at $11,107,000 after purchasing an additional 98,634 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of ArcBest by 17.7% in the second quarter. Bank of America Corp DE now owns 304,637 shares of the transportation company’s stock valued at $8,563,000 after purchasing an additional 45,704 shares during the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.
Shares of NASDAQ ARCB traded up $0.18 during midday trading on Friday, reaching $28.37. The company’s stock had a trading volume of 117,954 shares, compared to its average volume of 136,350. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.39. ArcBest has a fifty-two week low of $24.68 and a fifty-two week high of $41.87. The stock has a market capitalization of $730.52 million, a price-to-earnings ratio of 7.35 and a beta of 1.94. The stock has a 50 day simple moving average of $27.78 and a 200-day simple moving average of $28.70.
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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