Zacks: Brokerages Expect ArcBest (ARCB) to Announce $0.92 Earnings Per Share

Equities research analysts expect that ArcBest (NASDAQ:ARCB) will announce earnings of $0.92 per share for the current quarter, Zacks reports. Four analysts have issued estimates for ArcBest’s earnings. The lowest EPS estimate is $0.80 and the highest is $1.11. ArcBest posted earnings per share of $0.57 in the same quarter last year, which would suggest a positive year-over-year growth rate of 61.4%. The business is expected to issue its next earnings results on Friday, July 27th.

According to Zacks, analysts expect that ArcBest will report full-year earnings of $2.74 per share for the current financial year, with EPS estimates ranging from $2.26 to $3.35. For the next year, analysts anticipate that the company will report earnings of $3.03 per share, with EPS estimates ranging from $2.65 to $3.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for ArcBest.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, May 10th. The transportation company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.36. The company had revenue of $700.00 million for the quarter, compared to the consensus estimate of $689.24 million. ArcBest had a return on equity of 7.79% and a net margin of 2.68%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) earnings per share.

A number of research firms recently commented on ARCB. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Wednesday, May 16th. Stephens reiterated a “hold” rating and issued a $37.00 target price on shares of ArcBest in a research report on Thursday, April 12th. ValuEngine upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Citigroup boosted their target price on ArcBest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Finally, Cowen reiterated a “market perform” rating and issued a $39.00 target price (up from $33.00) on shares of ArcBest in a research report on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $35.00.

In other ArcBest news, SVP Michael E. Newcity sold 5,589 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $47.00, for a total transaction of $262,683.00. Following the sale, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $1,880,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ARCB. Wells Fargo & Company MN increased its stake in ArcBest by 10.8% during the third quarter. Wells Fargo & Company MN now owns 30,475 shares of the transportation company’s stock worth $1,019,000 after acquiring an additional 2,974 shares during the last quarter. California Public Employees Retirement System increased its stake in ArcBest by 29.2% during the third quarter. California Public Employees Retirement System now owns 43,786 shares of the transportation company’s stock worth $1,465,000 after acquiring an additional 9,886 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in ArcBest by 3.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,068 shares of the transportation company’s stock worth $11,550,000 after acquiring an additional 11,611 shares during the last quarter. Acadian Asset Management LLC increased its stake in ArcBest by 80.6% during the fourth quarter. Acadian Asset Management LLC now owns 227,651 shares of the transportation company’s stock worth $8,139,000 after acquiring an additional 101,593 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in ArcBest during the fourth quarter worth approximately $1,000,000. 89.77% of the stock is currently owned by institutional investors.

NASDAQ:ARCB opened at $48.10 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.21 billion, a P/E ratio of 36.17, a PEG ratio of 0.49 and a beta of 1.79. ArcBest has a 12 month low of $18.45 and a 12 month high of $49.85.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Tuesday, May 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.32 annualized dividend and a yield of 0.67%. ArcBest’s payout ratio is currently 24.06%.

ArcBest Company Profile

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

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