ArcBest Corporation (ARCB) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
ArcBest Corporation (NASDAQ:ARCB) issued its quarterly earnings results on Friday. The transportation company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01, Bloomberg Earnings reports. The company had revenue of $744.30 million during the quarter, compared to analysts’ expectations of $750.16 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share.
Shares of ArcBest Corporation (NASDAQ ARCB) traded up $0.90 during trading on Friday, hitting $33.00. The company had a trading volume of 412,461 shares, compared to its average volume of 214,433. The company has a market cap of $830.31 million, a P/E ratio of 28.84 and a beta of 1.78.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. ArcBest Corporation’s payout ratio is 37.21%.
Several equities research analysts have recently weighed in on ARCB shares. Zacks Investment Research raised ArcBest Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Cowen and Company reissued a “buy” rating and issued a $29.00 price target on shares of ArcBest Corporation in a research note on Sunday, July 30th. TheStreet raised ArcBest Corporation from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of ArcBest Corporation in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.83.
In related news, VP Michael R. Johns sold 6,593 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the sale, the vice president now owns 35,700 shares in the company, valued at approximately $1,070,286. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO James A. Ingram sold 6,918 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $27.14, for a total value of $187,754.52. Following the sale, the chief operating officer now owns 43,500 shares in the company, valued at approximately $1,180,590. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,281 shares of company stock worth $408,513. 0.97% of the stock is owned by corporate insiders.
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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