ArcBest Corp (ARCB) Posts Quarterly Earnings, Misses Expectations By $0.07 EPS
ArcBest Corp (NASDAQ:ARCB) issued its quarterly earnings data on Thursday. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.72 by $0.07, ARN reports. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $643.08 million. The company’s quarterly revenue was up 14.2% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of ArcBest Corp from $37.00 to $40.00 in a research note on Monday, July 7th. They now have a “hold” rating on the stock. On a related note, analysts at Cowen and Company raised their price target on shares of ArcBest Corp from $40.00 to $44.00 in a research note on Wednesday, July 2nd. Finally, analysts at Morgan Stanley initiated coverage on shares of ArcBest Corp in a research note on Monday, May 5th. They set an “equal weight” rating on the stock. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $37.34.
ArcBest Corp (NASDAQ:ARCB) traded down 24.71% during mid-day trading on Thursday, hitting $31.84. The stock had a trading volume of 1,122,094 shares. ArcBest Corp has a 1-year low of $19.40 and a 1-year high of $45.68. The stock’s 50-day moving average is $42.51 and its 200-day moving average is $38.29. The company has a market cap of $827.6 million and a P/E ratio of 46.78.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, August 5th.
ArcBest Corp., formerly Arkansas Best Corporation, is a provider of freight transportation services and solutions.
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