Brokerages expect ArcBest Co. (NASDAQ:ARCB – Get Rating) to report $3.86 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ArcBest’s earnings, with estimates ranging from $3.67 to $4.06. ArcBest reported earnings per share of $1.97 during the same quarter last year, which would suggest a positive year over year growth rate of 95.9%. The firm is scheduled to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that ArcBest will report full year earnings of $13.14 per share for the current year, with EPS estimates ranging from $11.65 to $14.00. For the next year, analysts expect that the firm will post earnings of $11.77 per share, with EPS estimates ranging from $10.75 to $14.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow ArcBest.
ArcBest (NASDAQ:ARCB – Get Rating) last released its quarterly earnings data on Friday, April 29th. The transportation company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.95. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. ArcBest had a return on equity of 29.28% and a net margin of 5.79%. ArcBest’s revenue was up 61.0% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share.
A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on ArcBest from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, February 2nd. StockNews.com assumed coverage on ArcBest in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Cowen reissued a “buy” rating and set a $133.00 price target on shares of ArcBest in a research note on Monday, May 2nd. Bank of America lowered ArcBest from a “buy” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research note on Friday, April 8th. Finally, Stifel Nicolaus lifted their price target on ArcBest from $133.00 to $135.00 in a research note on Friday, February 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $110.10.
Shares of ARCB stock traded up $1.15 during mid-day trading on Wednesday, reaching $76.78. 324,609 shares of the stock traded hands, compared to its average volume of 416,425. The stock’s fifty day simple moving average is $74.79 and its two-hundred day simple moving average is $89.61. ArcBest has a 1-year low of $52.86 and a 1-year high of $125.00. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.58. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.17.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th were issued a dividend of $0.12 per share. This is an increase from ArcBest’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, May 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. ArcBest’s payout ratio is currently 4.90%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings 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 valued at $497,679,000 after acquiring an additional 43,094 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ArcBest by 2.1% during the first quarter. Vanguard Group Inc. now owns 2,714,834 shares of the transportation company’s stock valued at $218,544,000 after acquiring an additional 55,946 shares in the last quarter. State Street Corp increased its holdings in shares of ArcBest by 6.3% during the first quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock valued at $85,957,000 after acquiring an additional 63,476 shares in the last quarter. Bank of America Corp DE boosted its position in shares of ArcBest by 28.6% during the fourth quarter. Bank of America Corp DE now owns 507,495 shares of the transportation company’s stock valued at $60,823,000 after buying an additional 112,804 shares during the last quarter. Finally, abrdn plc boosted its position in shares of ArcBest by 36.5% during the first quarter. abrdn plc now owns 490,549 shares of the transportation company’s stock valued at $39,489,000 after buying an additional 131,075 shares during the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.
About ArcBest (Get Rating)
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.
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