ArcBest Corp (NASDAQ:ARCB) – Stock analysts at SunTrust Banks dropped their Q2 2019 earnings per share (EPS) estimates for ArcBest in a research report issued to clients and investors on Wednesday, June 12th. SunTrust Banks analyst S. Benjamin now forecasts that the transportation company will earn $0.98 per share for the quarter, down from their prior forecast of $1.00. SunTrust Banks also issued estimates for ArcBest’s FY2019 earnings at $3.53 EPS, Q1 2020 earnings at $0.23 EPS, Q2 2020 earnings at $1.05 EPS, Q3 2020 earnings at $1.51 EPS and FY2020 earnings at $3.87 EPS.
ArcBest (NASDAQ:ARCB) last released its earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). ArcBest had a return on equity of 14.19% and a net margin of 2.00%. The company had revenue of $711.84 million during the quarter, compared to analyst estimates of $724.33 million. During the same period in the prior year, the business posted $0.29 earnings per share. ArcBest’s revenue was up 1.7% on a year-over-year basis.
Other research analysts have also recently issued reports about the stock. TheStreet cut shares of ArcBest from a “b-” rating to a “c+” rating in a research report on Tuesday, May 28th. BidaskClub cut shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Loop Capital lifted their price target on shares of ArcBest to $34.00 and gave the company a “hold” rating in a research report on Monday, May 6th. Cowen reaffirmed a “hold” rating and set a $40.00 price target on shares of ArcBest in a research report on Friday, May 3rd. Finally, Wolfe Research raised shares of ArcBest from an “underperform” rating to a “market perform” rating in a research report on Monday, April 1st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.89.
ARCB opened at $26.71 on Thursday. The company has a market capitalization of $677.12 million, a P/E ratio of 7.10 and a beta of 2.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40. ArcBest has a 1 year low of $24.68 and a 1 year high of $51.45.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.20%. ArcBest’s dividend payout ratio is currently 8.29%.
Several institutional investors and hedge funds have recently bought and sold shares of ARCB. BlackRock Inc. boosted its holdings in ArcBest by 0.6% in the first quarter. BlackRock Inc. now owns 3,749,972 shares of the transportation company’s stock worth $115,463,000 after purchasing an additional 21,313 shares during the period. Royce & Associates LP boosted its holdings in ArcBest by 81,746.6% in the first quarter. Royce & Associates LP now owns 744,804 shares of the transportation company’s stock worth $22,933,000 after purchasing an additional 743,894 shares during the period. Bank of New York Mellon Corp boosted its holdings in ArcBest by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 548,121 shares of the transportation company’s stock worth $18,778,000 after purchasing an additional 6,580 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ArcBest by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 400,020 shares of the transportation company’s stock worth $12,317,000 after purchasing an additional 20,365 shares during the period. Finally, American Century Companies Inc. boosted its holdings in ArcBest by 45.3% in the fourth quarter. American Century Companies Inc. now owns 377,868 shares of the transportation company’s stock worth $12,946,000 after purchasing an additional 117,847 shares during the period. Institutional investors own 99.08% of the company’s stock.
ArcBest Company Profile
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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