ArcBest (NASDAQ:ARCB) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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ArcBest (NASDAQ:ARCB) released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.03), reports. The firm had revenue of $771.50 million during the quarter, compared to the consensus estimate of $779.07 million. ArcBest had a net margin of 2.77% and a return on equity of 13.11%. ArcBest’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share.

Shares of ArcBest stock opened at $27.20 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.38. ArcBest has a 52-week low of $24.68 and a 52-week high of $51.45. The stock has a market capitalization of $749.28 million, a price-to-earnings ratio of 8.27 and a beta of 2.02. The company’s 50 day moving average price is $27.57 and its 200-day moving average price is $30.56.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, August 8th. ArcBest’s dividend payout ratio (DPR) is presently 8.29%.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of ArcBest from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Cowen raised shares of ArcBest from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Wednesday, May 22nd. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Mizuho reissued a “buy” rating and set a $38.00 price target on shares of ArcBest in a research note on Tuesday, July 2nd. Finally, Loop Capital lifted their price target on shares of ArcBest to $34.00 and gave the stock a “hold” rating in a research note on Monday, May 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.63.

About ArcBest

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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Earnings History for ArcBest (NASDAQ:ARCB)

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