$965.47 Million in Sales Expected for ArcBest Co. (NASDAQ:ARCB) This Quarter

Equities analysts expect ArcBest Co. (NASDAQ:ARCB) to report sales of $965.47 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for ArcBest’s earnings. The lowest sales estimate is $950.90 million and the highest is $991.40 million. ArcBest posted sales of $794.98 million during the same quarter last year, which suggests a positive year-over-year growth rate of 21.4%. The firm is expected to report its next quarterly earnings results on Tuesday, November 2nd.

According to Zacks, analysts expect that ArcBest will report full year sales of $3.64 billion for the current year, with estimates ranging from $3.60 billion to $3.71 billion. For the next financial year, analysts forecast that the company will post sales of $3.76 billion, with estimates ranging from $3.66 billion to $3.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ArcBest.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Sunday, August 1st. The transportation company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.34. ArcBest had a net margin of 4.06% and a return on equity of 16.42%. The company had revenue of $949.00 million for the quarter, compared to the consensus estimate of $931.98 million. The business’s revenue was up 51.3% on a year-over-year basis.

A number of analysts recently weighed in on ARCB shares. Wolfe Research cut shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 4th. Citigroup lowered their target price on shares of ArcBest from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, July 14th. Stifel Nicolaus started coverage on shares of ArcBest in a research note on Monday, June 21st. They issued a “buy” rating on the stock. Vertical Research raised shares of ArcBest from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, June 8th. Finally, Cowen boosted their price target on shares of ArcBest from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $80.91.

Hedge funds have recently made changes to their positions in the company. EAM Global Investors LLC acquired a new position in shares of ArcBest during the first quarter worth approximately $2,593,000. Cornercap Investment Counsel Inc. acquired a new position in shares of ArcBest during the first quarter worth approximately $766,000. TD Asset Management Inc. acquired a new position in shares of ArcBest during the first quarter worth approximately $725,000. Janney Montgomery Scott LLC lifted its holdings in ArcBest by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 9,353 shares of the transportation company’s stock valued at $658,000 after buying an additional 265 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in ArcBest by 2.6% in the first quarter. Federated Hermes Inc. now owns 30,645 shares of the transportation company’s stock valued at $2,156,000 after buying an additional 781 shares during the period. Institutional investors own 89.95% of the company’s stock.

NASDAQ:ARCB opened at $67.92 on Wednesday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.46 and a beta of 1.79. The firm’s 50-day moving average is $63.80 and its 200-day moving average is $68.11. ArcBest has a 52-week low of $28.52 and a 52-week high of $93.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 1.51.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 25th. Stockholders of record on Wednesday, August 11th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. ArcBest’s payout ratio is 9.91%.

About ArcBest

ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.

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Earnings History and Estimates for ArcBest (NASDAQ:ARCB)

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