Zacks: Brokerages Anticipate ArcBest Corp (ARCB) Will Post Earnings of $0.92 Per Share

Brokerages expect ArcBest Corp (NASDAQ:ARCB) to announce earnings of $0.92 per share for the current quarter, according to Zacks. Five analysts have provided estimates for ArcBest’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $1.02. ArcBest reported earnings of $0.42 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 119%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, January 30th.

According to Zacks, analysts expect that ArcBest will report full year earnings of $3.79 per share for the current year, with EPS estimates ranging from $3.70 to $3.93. For the next fiscal year, analysts expect that the firm will post earnings of $3.90 per share, with EPS estimates ranging from $3.20 to $4.10. Zacks’ EPS calculations are an average based on a survey of research analysts that cover ArcBest.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Thursday, November 1st. The transportation company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.32. The firm had revenue of $826.20 million during the quarter, compared to analyst estimates of $815.82 million. ArcBest had a return on equity of 12.98% and a net margin of 2.92%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS.

Several research firms have recently commented on ARCB. BidaskClub raised ArcBest from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine lowered ArcBest from a “hold” rating to a “sell” rating in a research report on Saturday, December 15th. SunTrust Banks began coverage on ArcBest in a research report on Wednesday, December 12th. They set a “buy” rating and a $47.00 target price on the stock. Loop Capital reduced their target price on ArcBest to $39.00 and set a “hold” rating on the stock in a research report on Tuesday, December 11th. Finally, Morgan Stanley upped their target price on ArcBest from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, November 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.90.

In related news, insider Daniel E. Loe sold 3,988 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $40.12, for a total transaction of $159,998.56. Following the transaction, the insider now directly owns 32,100 shares of the company’s stock, valued at approximately $1,287,852. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James David Darter sold 2,062 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $40.54, for a total value of $83,593.48. Following the transaction, the insider now directly owns 24,424 shares in the company, valued at $990,148.96. The disclosure for this sale can be found here. Insiders have sold a total of 10,459 shares of company stock worth $420,657 over the last ninety days. 1.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Vident Investment Advisory LLC purchased a new stake in ArcBest during the 3rd quarter valued at about $3,134,000. Marshall Wace LLP purchased a new stake in shares of ArcBest in the second quarter worth about $210,000. WINTON GROUP Ltd purchased a new stake in shares of ArcBest in the second quarter worth about $9,675,000. Chicago Equity Partners LLC boosted its stake in shares of ArcBest by 15.2% in the third quarter. Chicago Equity Partners LLC now owns 250,675 shares of the transportation company’s stock worth $12,170,000 after buying an additional 33,165 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in shares of ArcBest by 63.4% in the third quarter. ClariVest Asset Management LLC now owns 141,481 shares of the transportation company’s stock worth $6,869,000 after buying an additional 54,887 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

ARCB opened at $39.18 on Tuesday. The firm has a market capitalization of $1.00 billion, a PE ratio of 11.95, a P/E/G ratio of 0.23 and a beta of 2.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.39 and a quick ratio of 1.39. ArcBest has a 12 month low of $30.90 and a 12 month high of $51.45.

About ArcBest

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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