ArcBest Corp (NASDAQ:ARCB) – Research analysts at SunTrust Banks dropped their Q3 2019 earnings per share (EPS) estimates for ArcBest in a report issued on Wednesday, June 12th. SunTrust Banks analyst S. Benjamin now anticipates that the transportation company will post earnings of $1.43 per share for the quarter, down from their prior forecast of $1.49. SunTrust Banks also issued estimates for ArcBest’s Q4 2019 earnings at $0.95 EPS and Q4 2020 earnings at $1.08 EPS.
ArcBest (NASDAQ:ARCB) last posted 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 firm had revenue of $711.84 million for the quarter, compared to analyst estimates of $724.33 million. During the same period in the previous year, the company posted $0.29 EPS. ArcBest’s revenue was up 1.7% on a year-over-year basis.
Other equities analysts have also issued research reports about the company. Citigroup decreased their target price on ArcBest from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Seaport Global Securities reissued a “neutral” rating on shares of ArcBest in a research note on Friday, April 5th. BidaskClub lowered ArcBest from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. TheStreet lowered ArcBest from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. Finally, Buckingham Research decreased their target price on ArcBest from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. 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 stock. ArcBest has a consensus rating of “Hold” and a consensus price target of $40.89.
ARCB opened at $27.38 on Friday. ArcBest has a 12-month low of $24.68 and a 12-month high of $51.45. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39. The stock has a market cap of $681.46 million, a P/E ratio of 7.09 and a beta of 2.10.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, May 13th. This represents a $0.32 annualized dividend and a yield of 1.17%. ArcBest’s dividend payout ratio (DPR) is 8.29%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Investors Inc. PA increased its holdings in shares of ArcBest by 71.3% in the 1st quarter. Federated Investors Inc. PA now owns 1,552 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 646 shares during the last quarter. Pearl River Capital LLC purchased a new position in shares of ArcBest in the 1st quarter valued at about $68,000. PNC Financial Services Group Inc. increased its holdings in shares of ArcBest by 13.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 375 shares during the last quarter. Neuburgh Advisers LLC increased its holdings in shares of ArcBest by 15.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 462 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of ArcBest by 596.2% in the 4th quarter. Sun Life Financial INC now owns 3,885 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 3,327 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.
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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