Brokerages expect ArcBest Corp (NASDAQ:ARCB) to announce earnings of $0.96 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for ArcBest’s earnings. The lowest EPS estimate is $0.87 and the highest is $1.02. ArcBest posted earnings per share of $1.12 in the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The company is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that ArcBest will report full-year earnings of $3.29 per share for the current year, with EPS estimates ranging from $3.10 to $3.70. For the next fiscal year, analysts anticipate that the business will post earnings of $3.51 per share, with EPS estimates ranging from $2.90 to $3.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for ArcBest.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). The company had revenue of $711.84 million for the quarter, compared to analyst estimates of $724.33 million. ArcBest had a return on equity of 14.19% and a net margin of 2.00%. ArcBest’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share.
Several research firms have recently issued reports on ARCB. Citigroup boosted their target price on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday. Cowen restated an “outperform” rating and set a $28.00 target price (down from $30.00) on shares of Pure Storage in a research report on Wednesday, May 22nd. TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. Mizuho began coverage on Merck & Co., Inc. in a research report on Tuesday, July 2nd. They set a “buy” rating and a $97.00 target price for the company. Finally, Seaport Global Securities restated a “neutral” rating on shares of YRC Worldwide in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. ArcBest has a consensus rating of “Hold” and a consensus price target of $37.67.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in ArcBest by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 224,606 shares of the transportation company’s stock worth $7,695,000 after acquiring an additional 10,738 shares during the last quarter. Victory Capital Management Inc. boosted its position in ArcBest by 30.5% during the 1st quarter. Victory Capital Management Inc. now owns 6,915 shares of the transportation company’s stock worth $213,000 after acquiring an additional 1,615 shares during the last quarter. Globeflex Capital L P boosted its position in ArcBest by 1.6% during the 1st quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock worth $856,000 after acquiring an additional 439 shares during the last quarter. First Trust Advisors LP boosted its position in ArcBest by 316.5% during the 4th quarter. First Trust Advisors LP now owns 45,619 shares of the transportation company’s stock worth $1,563,000 after acquiring an additional 34,667 shares during the last quarter. Finally, BlackRock Inc. boosted its position in ArcBest by 2.6% during the 4th quarter. BlackRock Inc. now owns 3,728,659 shares of the transportation company’s stock worth $127,743,000 after acquiring an additional 93,618 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.
Shares of ArcBest stock traded down $0.47 during trading on Wednesday, hitting $26.43. 5,051 shares of the company were exchanged, compared to its average volume of 215,772. The company has a market capitalization of $686.31 million, a price-to-earnings ratio of 6.86 and a beta of 2.09. ArcBest has a 1-year low of $24.68 and a 1-year high of $51.45. The stock has a fifty day moving average price of $26.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.40 and a quick ratio of 1.40.
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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