ArcBest (NASDAQ:ARCB) issued its earnings results on Thursday. The transportation company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.12 by $0.32, Briefing.com reports. ArcBest had a return on equity of 9.88% and a net margin of 2.12%. The business had revenue of $826.20 million during the quarter, compared to the consensus estimate of $815.82 million. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year.
Shares of NASDAQ:ARCB traded up $5.42 on Friday, hitting $42.32. The company’s stock had a trading volume of 477,657 shares, compared to its average volume of 326,449. ArcBest has a 1 year low of $29.40 and a 1 year high of $51.45. The stock has a market cap of $919.75 million, a P/E ratio of 31.82, a PEG ratio of 0.27 and a beta of 2.10. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Tuesday, November 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. ArcBest’s payout ratio is currently 24.06%.
Several brokerages have commented on ARCB. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Loop Capital began coverage on ArcBest in a research note on Monday, October 1st. They issued a “hold” rating and a $47.00 target price for the company. Stifel Nicolaus restated a “hold” rating and issued a $46.00 target price on shares of ArcBest in a research note on Friday, August 3rd. Buckingham Research raised their target price on ArcBest from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Finally, Wolfe Research downgraded ArcBest from a “peer perform” rating to an “underperform” rating in a research note on Friday, October 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $44.00.
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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