Brokerages Anticipate ArcBest Corp (NASDAQ:ARCB) Will Announce Earnings of $0.99 Per Share

Brokerages expect ArcBest Corp (NASDAQ:ARCB) to report earnings per share of $0.99 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for ArcBest’s earnings. The highest EPS estimate is $1.11 and the lowest is $0.87. ArcBest reported earnings of $1.12 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.6%. The business is expected to report its next quarterly earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that ArcBest will report full-year earnings of $3.37 per share for the current year, with EPS estimates ranging from $3.10 to $3.70. For the next fiscal year, analysts expect that the firm will report earnings of $3.56 per share, with EPS estimates ranging from $2.90 to $3.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow ArcBest.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.13). The business had revenue of $711.84 million for the quarter, compared to the consensus estimate of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. ArcBest’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS.

A number of research firms have weighed in on ARCB. BidaskClub downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Buckingham Research decreased their price target on shares of ArcBest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Citigroup decreased their price target on shares of ArcBest from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Bank of America reiterated an “underperform” rating and set a $34.00 price target (down previously from $45.00) on shares of ArcBest in a research note on Tuesday, March 12th. Finally, ValuEngine downgraded shares of ArcBest from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $40.89.

ARCB traded down $0.33 during midday trading on Monday, hitting $26.51. 12,149 shares of the company’s stock traded hands, compared to its average volume of 255,457. ArcBest has a one year low of $24.68 and a one year high of $51.45. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average price is $27.87. The stock has a market capitalization of $684.78 million, a P/E ratio of 6.85 and a beta of 2.09.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.21%. ArcBest’s payout ratio is presently 8.29%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its holdings in ArcBest by 6.2% in the 4th quarter. Arizona State Retirement System now owns 39,562 shares of the transportation company’s stock valued at $1,355,000 after buying an additional 2,304 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of ArcBest by 45.8% in the fourth quarter. Xact Kapitalforvaltning AB now owns 7,000 shares of the transportation company’s stock worth $240,000 after purchasing an additional 2,200 shares in the last quarter. Rhumbline Advisers lifted its position in shares of ArcBest by 20.8% in the fourth quarter. Rhumbline Advisers now owns 75,963 shares of the transportation company’s stock worth $2,602,000 after purchasing an additional 13,094 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of ArcBest by 6.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,373 shares of the transportation company’s stock worth $664,000 after purchasing an additional 1,152 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of ArcBest by 6.9% in the fourth quarter. LSV Asset Management now owns 278,600 shares of the transportation company’s stock worth $9,544,000 after purchasing an additional 18,100 shares in the last quarter. 98.77% of the stock is owned by institutional investors.

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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Earnings History and Estimates for ArcBest (NASDAQ:ARCB)

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