Wall Street brokerages forecast that ArcBest Corporation (NASDAQ:ARCB) will report earnings per share (EPS) of $0.61 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ArcBest Corporation’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.67. ArcBest Corporation reported earnings of $0.48 per share during the same quarter last year, which would suggest a positive year over year growth rate of 27.1%. The firm is scheduled to issue its next earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that ArcBest Corporation will report full year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.37. For the next financial year, analysts expect that the business will report earnings of $1.80 per share, with EPS estimates ranging from $1.60 to $2.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for ArcBest Corporation.

ArcBest Corporation (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $720.40 million during the quarter, compared to the consensus estimate of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share.

Several research analysts have recently issued reports on ARCB shares. BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine raised ArcBest Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Morgan Stanley upped their price objective on ArcBest Corporation from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday. Zacks Investment Research raised ArcBest Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $29.00 price objective on shares of ArcBest Corporation in a research report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.40.

In related news, insider Daniel E. Loe sold 9,929 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the completion of the sale, the insider now directly owns 33,600 shares of the company’s stock, valued at approximately $869,232. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Johns sold 6,593 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $29.98, for a total value of $197,658.14. Following the completion of the sale, the vice president now directly owns 35,700 shares of the company’s stock, valued at $1,070,286. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,210 shares of company stock valued at $665,376. Insiders own 0.97% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ARCB. Great West Life Assurance Co. Can raised its stake in ArcBest Corporation by 4.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,898 shares of the transportation company’s stock valued at $827,000 after acquiring an additional 1,288 shares during the last quarter. Bank of New York Mellon Corp raised its stake in ArcBest Corporation by 41.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,056,395 shares of the transportation company’s stock valued at $27,467,000 after acquiring an additional 310,688 shares during the last quarter. Comerica Bank raised its stake in ArcBest Corporation by 3.5% during the 1st quarter. Comerica Bank now owns 26,317 shares of the transportation company’s stock valued at $717,000 after acquiring an additional 882 shares during the last quarter. Karp Capital Management Corp purchased a new stake in ArcBest Corporation during the 1st quarter valued at approximately $594,000. Finally, Sei Investments Co. raised its stake in ArcBest Corporation by 165.0% during the 1st quarter. Sei Investments Co. now owns 23,920 shares of the transportation company’s stock valued at $622,000 after acquiring an additional 14,894 shares during the last quarter. 84.91% of the stock is owned by hedge funds and other institutional investors.

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Shares of ArcBest Corporation (ARCB) traded down 2.37% on Thursday, hitting $32.90. The stock had a trading volume of 284,834 shares. ArcBest Corporation has a 52-week low of $16.95 and a 52-week high of $34.25. The firm’s 50-day moving average price is $29.32 and its 200 day moving average price is $24.35. The firm has a market cap of $845.73 million, a PE ratio of 38.03 and a beta of 1.78.

ArcBest Corporation Company Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

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Earnings History and Estimates for ArcBest Corporation (NASDAQ:ARCB)

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