Wall Street analysts expect ArcBest Corp (NASDAQ:ARCB) to report $689.35 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for ArcBest’s earnings. The lowest sales estimate is $678.30 million and the highest is $702.99 million. ArcBest reported sales of $651.09 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The firm is expected to issue its next earnings results on Friday, May 4th.
According to Zacks, analysts expect that ArcBest will report full year sales of $689.35 million for the current year, with estimates ranging from $2.93 billion to $3.04 billion. For the next financial year, analysts anticipate that the company will report sales of $3.18 billion per share, with estimates ranging from $3.11 billion to $3.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for ArcBest.
ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The firm had revenue of $710.72 million for the quarter, compared to analysts’ expectations of $723.69 million. During the same quarter in the prior year, the business earned $0.28 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. California Public Employees Retirement System raised its stake in ArcBest by 92.6% during the 2nd quarter. California Public Employees Retirement System now owns 33,900 shares of the transportation company’s stock worth $698,000 after acquiring an additional 16,300 shares during the period. The Manufacturers Life Insurance Company raised its stake in ArcBest by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,032 shares of the transportation company’s stock worth $434,000 after acquiring an additional 1,683 shares during the period. First Trust Advisors LP raised its stake in ArcBest by 47.9% during the 3rd quarter. First Trust Advisors LP now owns 119,588 shares of the transportation company’s stock worth $4,000,000 after acquiring an additional 38,743 shares during the period. Crossmark Global Holdings Inc. bought a new stake in ArcBest during the 3rd quarter worth approximately $414,000. Finally, State Board of Administration of Florida Retirement System raised its stake in ArcBest by 15.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 27,988 shares of the transportation company’s stock worth $936,000 after acquiring an additional 3,656 shares during the period. Institutional investors own 88.61% of the company’s stock.
Shares of ArcBest stock traded down $0.95 during trading hours on Friday, hitting $33.00. 175,972 shares of the stock traded hands, compared to its average volume of 325,078. ArcBest has a 52-week low of $16.95 and a 52-week high of $39.70. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.32. The company has a market cap of $914.12, a PE ratio of 14.73 and a beta of 1.73.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, February 9th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, February 8th. ArcBest’s payout ratio is 14.29%.
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ArcBest 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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