Analysts expect that ArcBest Corp (NASDAQ:ARCB) will report sales of $782.28 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for ArcBest’s earnings. The highest sales estimate is $788.30 million and the lowest is $775.50 million. ArcBest reported sales of $720.37 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.6%. The firm is scheduled to announce its next earnings report on Friday, July 27th.
On average, analysts expect that ArcBest will report full year sales of $3.04 billion for the current fiscal year, with estimates ranging from $3.02 billion to $3.07 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.23 billion per share, with estimates ranging from $3.15 billion to $3.30 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover ArcBest.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Thursday, May 10th. The transportation company reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.36. ArcBest had a return on equity of 7.79% and a net margin of 2.68%. The company had revenue of $700.00 million for the quarter, compared to analysts’ expectations of $689.24 million. During the same period last year, the firm posted ($0.22) earnings per share. ArcBest’s revenue was up 7.5% compared to the same quarter last year.
ARCB has been the topic of a number of recent research reports. BidaskClub raised ArcBest from a “sell” rating to a “hold” rating in a report on Friday, April 6th. ValuEngine raised ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. Cowen reissued a “market perform” rating and issued a $41.00 target price (up previously from $39.00) on shares of ArcBest in a report on Friday, May 11th. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 target price (up previously from $23.00) on shares of ArcBest in a report on Wednesday, February 21st. Finally, Stifel Nicolaus raised ArcBest from a “sell” rating to a “hold” rating and lowered their target price for the company from $35.00 to $32.00 in a report on Monday, April 2nd. Ten research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $35.00.
In other ArcBest news, SVP Michael E. Newcity sold 5,589 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $47.00, for a total transaction of $262,683.00. Following the completion of the transaction, the senior vice president now owns 40,000 shares in the company, valued at approximately $1,880,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Legg sold 9,947 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $47.06, for a total value of $468,105.82. Following the transaction, the director now owns 26,200 shares of the company’s stock, valued at approximately $1,232,972. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in ArcBest by 3.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 323,068 shares of the transportation company’s stock valued at $11,550,000 after buying an additional 11,611 shares in the last quarter. Spark Investment Management LLC boosted its holdings in shares of ArcBest by 41.5% in the 4th quarter. Spark Investment Management LLC now owns 174,300 shares of the transportation company’s stock worth $6,231,000 after purchasing an additional 51,100 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of ArcBest by 125.3% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 146,900 shares of the transportation company’s stock worth $5,251,000 after purchasing an additional 81,700 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of ArcBest by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 45,056 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 2,351 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in ArcBest by 19.6% during the 4th quarter. California Public Employees Retirement System now owns 52,387 shares of the transportation company’s stock valued at $1,873,000 after acquiring an additional 8,601 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.
Shares of ArcBest traded down $0.90, hitting $48.70, during trading on Friday, Marketbeat Ratings reports. 1,993 shares of the company’s stock traded hands, compared to its average volume of 364,649. ArcBest has a 1 year low of $19.10 and a 1 year high of $50.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $1.27 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 0.48 and a beta of 1.70.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, May 14th. ArcBest’s dividend payout ratio (DPR) is currently 24.06%.
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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