ArcBest (NASDAQ:ARCB) Announces Quarterly Earnings Results

ArcBest (NASDAQ:ARCB) issued its quarterly earnings data on Friday. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20), Briefing.com reports. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year.

ArcBest Trading Down 4.0 %

ARCB traded down $4.16 during mid-day trading on Friday, hitting $100.02. The stock had a trading volume of 589,804 shares, compared to its average volume of 285,275. ArcBest has a 1-year low of $94.76 and a 1-year high of $153.60. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.40 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s fifty day simple moving average is $104.68 and its 200-day simple moving average is $110.42.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio is currently 9.07%.

Analyst Ratings Changes

ARCB has been the subject of several analyst reports. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of ArcBest in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price target on ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Citigroup started coverage on ArcBest in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $111.00 price objective for the company. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $114.00 in a report on Monday, October 14th. Finally, Morgan Stanley cut their price target on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.92.

Insider Activity at ArcBest

In other ArcBest news, Director Salvatore A. Abbate bought 1,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $103.93 per share, with a total value of $103,930.00. Following the completion of the purchase, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.65% of the stock is owned by corporate insiders.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.