ArcBest (NASDAQ:ARCB) Releases Quarterly Earnings Results, Beats Estimates By $0.42 EPS

ArcBest (NASDAQ:ARCB) issued its quarterly earnings results on Tuesday. The transportation company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.42, MarketWatch Earnings reports. The firm had revenue of $829.21 million during the quarter, compared to the consensus estimate of $801.09 million. ArcBest had a return on equity of 9.58% and a net margin of 1.47%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share.

ARCB traded up $3.19 during trading hours on Tuesday, reaching $78.15. 3,652 shares of the company’s stock traded hands, compared to its average volume of 223,013. ArcBest has a 52-week low of $17.58 and a 52-week high of $76.21. The firm has a market capitalization of $1.98 billion, a PE ratio of 49.33, a PEG ratio of 1.26 and a beta of 1.80. The firm has a 50-day moving average price of $71.63 and a 200 day moving average price of $52.48. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.28.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, May 12th. ArcBest’s dividend payout ratio (DPR) is 11.11%.

In related news, Director Kathleen D. Mcelligott sold 5,000 shares of the company’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $71.57, for a total transaction of $357,850.00. Following the transaction, the director now directly owns 19,600 shares of the company’s stock, valued at approximately $1,402,772. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael R. Johns sold 1,629 shares of the company’s stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $52.68, for a total value of $85,815.72. 1.88% of the stock is currently owned by corporate insiders.

Several brokerages have issued reports on ARCB. The Goldman Sachs Group raised their target price on ArcBest from $55.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, March 10th. Truist Securities raised their target price on ArcBest from $55.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. Morgan Stanley raised their target price on ArcBest from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 31st. Cowen raised their target price on ArcBest from $46.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 3rd. Finally, Vertical Research began coverage on ArcBest in a research note on Thursday, April 1st. They issued a “hold” rating and a $72.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $64.69.

ArcBest Company Profile

ArcBest Corporation provides freight transportation and integrated logistics services. 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 for ArcBest (NASDAQ:ARCB)

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