$717.77 Million in Sales Expected for ArcBest Corporation (ARCB) This Quarter

Equities analysts expect ArcBest Corporation (NASDAQ:ARCB) to post $717.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for ArcBest’s earnings, with the highest sales estimate coming in at $725.10 million and the lowest estimate coming in at $713.10 million. ArcBest posted sales of $688.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The business is expected to report its next quarterly earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that ArcBest will report full-year sales of $717.77 million for the current year, with estimates ranging from $2.83 billion to $2.85 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.00 billion per share, with estimates ranging from $2.96 billion to $3.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for ArcBest.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $744.30 million for the quarter, compared to the consensus estimate of $750.16 million. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. ArcBest’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS.

Several research analysts recently commented on ARCB shares. ValuEngine upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $28.00 target price on shares of ArcBest in a report on Thursday, September 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 target price (up previously from $21.00) on shares of ArcBest in a report on Thursday, October 5th. Zacks Investment Research lowered shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Cowen lowered shares of ArcBest from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. ArcBest has an average rating of “Hold” and an average target price of $31.43.

In other news, Director William Legg sold 6,153 shares of ArcBest stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $37.52, for a total transaction of $230,860.56. Following the sale, the director now directly owns 36,147 shares in the company, valued at approximately $1,356,235.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven Spinner sold 4,000 shares of ArcBest stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total transaction of $128,000.00. Following the sale, the director now owns 24,700 shares in the company, valued at $790,400. The disclosure for this sale can be found here. Insiders sold a total of 13,853 shares of company stock worth $499,794 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Several institutional investors have recently modified their holdings of ARCB. Pacad Investment Ltd. boosted its position in ArcBest by 34.1% in the second quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock valued at $122,000 after buying an additional 1,500 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of ArcBest by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after acquiring an additional 2,957 shares during the last quarter. Stephens Inc. AR bought a new position in shares of ArcBest in the third quarter worth about $299,000. Marshall Wace North America L.P. bought a new position in shares of ArcBest in the second quarter worth about $236,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of ArcBest in the third quarter worth about $414,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Shares of ArcBest (NASDAQ ARCB) traded up $0.65 on Friday, reaching $37.05. 138,200 shares of the company traded hands, compared to its average volume of 244,689. The company has a market cap of $933.18, a P/E ratio of 39.84 and a beta of 1.82. ArcBest has a 12-month low of $16.95 and a 12-month high of $38.75. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.33.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.32 annualized dividend and a yield of 0.86%. ArcBest’s dividend payout ratio is 34.41%.

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ArcBest 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 (NASDAQ:ARCB)

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