ArcBest (NASDAQ:ARCB – Get Rating) will be issuing its quarterly earnings data before the market opens on Friday, April 29th. Analysts expect the company to announce earnings of $2.10 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.
ArcBest (NASDAQ:ARCB – Get Rating) last issued its quarterly earnings results on Tuesday, February 1st. The transportation company reported $2.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.52. ArcBest had a return on equity of 24.57% and a net margin of 5.36%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, analysts expect ArcBest to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.
Shares of ARCB opened at $73.97 on Friday. ArcBest has a 52-week low of $52.86 and a 52-week high of $125.00. The business’s fifty day moving average is $83.05 and its 200-day moving average is $93.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.51 and a beta of 1.60.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 25th. Stockholders of record on Friday, February 11th were paid a $0.08 dividend. The ex-dividend date was Thursday, February 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. ArcBest’s payout ratio is 4.01%.
In other news, Director Michael P. Hogan acquired 1,771 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The shares were acquired at an average price of $84.77 per share, for a total transaction of $150,127.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Spinner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $91.00, for a total value of $455,000.00. The disclosure for this sale can be found here. Insiders own 1.68% of the company’s stock.
Several large investors have recently bought and sold shares of ARCB. Morgan Stanley lifted its position in shares of ArcBest by 140.3% during the second quarter. Morgan Stanley now owns 462,902 shares of the transportation company’s stock worth $26,936,000 after acquiring an additional 270,233 shares in the last quarter. Millennium Management LLC lifted its position in shares of ArcBest by 1,312.6% during the fourth quarter. Millennium Management LLC now owns 111,527 shares of the transportation company’s stock worth $13,367,000 after acquiring an additional 103,632 shares in the last quarter. BlackRock Inc. lifted its position in shares of ArcBest by 1.0% during the fourth quarter. BlackRock Inc. now owns 4,152,529 shares of the transportation company’s stock worth $497,679,000 after acquiring an additional 43,094 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of ArcBest by 152.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 15,704 shares of the transportation company’s stock worth $1,882,000 after buying an additional 9,472 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of ArcBest by 216.5% in the fourth quarter. Marshall Wace LLP now owns 12,487 shares of the transportation company’s stock worth $1,497,000 after buying an additional 8,542 shares in the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.
A number of equities research analysts recently weighed in on ARCB shares. Stifel Nicolaus boosted their price objective on ArcBest from $133.00 to $135.00 in a research report on Friday, February 4th. Bank of America downgraded ArcBest from a “buy” rating to a “neutral” rating and set a $76.00 target price on the stock. in a report on Friday, April 8th. Zacks Investment Research downgraded ArcBest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 5th. StockNews.com began coverage on ArcBest in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group boosted their price objective on ArcBest from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $105.00.
About ArcBest
ArcBest Corporation provides freight transportation and integrated logistics services. 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.