ArcBest (NASDAQ:ARCB) Announces Earnings Results, Misses Estimates By $0.19 EPS

ArcBest (NASDAQ:ARCB) announced its quarterly earnings data on Tuesday. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19), Yahoo Finance reports. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share.

ArcBest Stock Down 2.3 %

Shares of NASDAQ:ARCB opened at $108.36 on Thursday. The business has a fifty day simple moving average of $138.58 and a 200 day simple moving average of $125.60. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The firm has a market cap of $2.55 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.48 and a beta of 1.56. ArcBest has a 12-month low of $82.18 and a 12-month high of $153.60.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s payout ratio is 9.66%.

Insider Activity at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ARCB shares. UBS Group cut their price target on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group lifted their price target on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, ArcBest has an average rating of “Moderate Buy” and a consensus target price of $143.38.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.