ArcBest (ARCB) Set to Announce Quarterly Earnings on Friday

ArcBest (NASDAQ:ARCB) will post its quarterly earnings results before the market opens on Friday, November 1st. Analysts expect ArcBest to post earnings of $2.05 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. ArcBest’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. On average, analysts expect ArcBest to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

ArcBest Stock Performance

ARCB stock opened at $101.60 on Friday. ArcBest has a one year low of $86.93 and a one year high of $153.60. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a 50-day simple moving average of $105.20 and a two-hundred day simple moving average of $112.34.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. ArcBest’s payout ratio is 9.66%.

Insiders Place Their Bets

In other ArcBest news, Director Salvatore A. Abbate acquired 1,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now directly owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ARCB shares. Stifel Nicolaus cut their price target on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their target price 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 began coverage on ArcBest in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $111.00 price target for the company. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and dropped their price target for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. Finally, Wells Fargo & Company lowered shares of ArcBest from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $122.00 to $112.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.92.

About ArcBest

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.