Zacks: Brokerages Anticipate ArcBest Corporation (NASDAQ:ARCB) to Post $0.60 EPS
Wall Street analysts forecast that ArcBest Corporation (NASDAQ:ARCB) will report earnings per share of $0.60 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for ArcBest Corporation’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.55. ArcBest Corporation reported earnings per share of $0.48 in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The business is scheduled to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that ArcBest Corporation will report full-year earnings of $1.31 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.37. For the next fiscal year, analysts expect that the company will report earnings of $1.76 per share, with EPS estimates ranging from $1.55 to $1.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for ArcBest Corporation.
ArcBest Corporation (NASDAQ:ARCB) last released its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The business had revenue of $720.40 million for the quarter, compared to analyst estimates of $721.11 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year.
ARCB has been the topic of a number of recent research reports. Zacks Investment Research lowered ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Cowen and Company boosted their target price on ArcBest Corporation from $24.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, May 8th. TheStreet raised ArcBest Corporation from a “c” rating to a “b-” rating in a report on Friday, July 28th. Deutsche Bank AG dropped their target price on ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, May 8th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of ArcBest Corporation in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.00.
Shares of ArcBest Corporation (NASDAQ ARCB) opened at 25.90 on Friday. The firm has a 50-day moving average price of $22.70 and a 200 day moving average price of $24.68. ArcBest Corporation has a 52-week low of $16.95 and a 52-week high of $33.95. The stock has a market cap of $665.37 million, a price-to-earnings ratio of 29.94 and a beta of 1.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, August 4th. ArcBest Corporation’s dividend payout ratio is presently 37.21%.
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In related news, insider Daniel E. Loe sold 9,929 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $25.87, for a total transaction of $256,863.23. Following the transaction, the insider now owns 33,600 shares of the company’s stock, valued at $869,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. raised its position in shares of ArcBest Corporation by 34.1% in the second quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock worth $122,000 after buying an additional 1,500 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of ArcBest Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after buying an additional 362 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of ArcBest Corporation by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of ArcBest Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of ArcBest Corporation by 0.7% in the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock worth $227,000 after buying an additional 60 shares in the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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