Brokerages expect ArcBest Corp (NASDAQ:ARCB) to report $689.35 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for ArcBest’s earnings. The highest sales estimate is $702.99 million and the lowest is $678.30 million. ArcBest posted sales of $651.09 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The company is scheduled to announce its next quarterly earnings results on Friday, May 4th.
According to Zacks, analysts expect that ArcBest will report full-year sales of $689.35 million for the current fiscal year, with estimates ranging from $2.93 billion to $3.04 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.18 billion per share, with estimates ranging from $3.11 billion to $3.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover ArcBest.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, January 31st. The transportation company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The firm had revenue of $710.72 million during the quarter, compared to the consensus estimate of $723.69 million. During the same quarter in the prior year, the firm earned $0.28 EPS. ArcBest’s revenue for the quarter was up 3.3% on a year-over-year basis.
A number of equities analysts have commented on ARCB shares. BidaskClub upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, January 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up from $23.00) on shares of ArcBest in a research note on Wednesday, February 21st. Finally, Cowen reaffirmed a “market perform” rating and set a $39.00 price target (up from $33.00) on shares of ArcBest in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.88.
ArcBest (NASDAQ ARCB) opened at $35.30 on Friday. The company has a market cap of $905.15, a price-to-earnings ratio of 26.74 and a beta of 1.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.30 and a current ratio of 1.30. ArcBest has a 12-month low of $16.95 and a 12-month high of $39.70.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.91%. ArcBest’s dividend payout ratio (DPR) is presently 24.24%.
Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new position in shares of ArcBest during the 3rd quarter worth $776,000. OxFORD Asset Management LLP acquired a new stake in ArcBest in the 3rd quarter valued at about $1,236,000. California Public Employees Retirement System grew its stake in ArcBest by 29.2% in the 3rd quarter. California Public Employees Retirement System now owns 43,786 shares of the transportation company’s stock valued at $1,465,000 after acquiring an additional 9,886 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in ArcBest by 4.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 311,457 shares of the transportation company’s stock valued at $10,419,000 after acquiring an additional 14,124 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in ArcBest in the 4th quarter valued at about $1,000,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.
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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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