ArcBest Corp (NASDAQ:ARCB) – Stock analysts at SunTrust Banks reduced their Q2 2019 earnings per share estimates for shares of ArcBest in a research note issued on Wednesday, June 12th. SunTrust Banks analyst S. Benjamin now forecasts that the transportation company will post earnings of $0.98 per share for the quarter, down from their previous estimate 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.
Other analysts have also recently issued research reports about the stock. TheStreet cut shares of ArcBest from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. BidaskClub cut shares of ArcBest from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Loop Capital increased their price target on shares of ArcBest to $34.00 and gave the company a “hold” rating in a research note on Monday, May 6th. Cowen reiterated a “hold” rating and issued a $40.00 price target on shares of ArcBest in a research note on Friday, May 3rd. Finally, Wolfe Research upgraded shares of ArcBest from an “underperform” rating to a “market perform” rating in a research note on Monday, April 1st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. ArcBest presently has an average rating of “Hold” and a consensus target price of $40.89.
Shares of ARCB stock opened at $26.71 on Thursday. The firm has a market capitalization of $677.12 million, a price-to-earnings ratio of 7.10 and a beta of 2.10. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.39. ArcBest has a one year low of $24.68 and a one year high of $51.45.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.13). The firm had revenue of $711.84 million during the quarter, compared to analyst estimates of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. Quantamental Technologies LLC acquired a new stake in shares of ArcBest during the 4th quarter worth about $38,000. Federated Investors Inc. PA increased its position in ArcBest by 71.3% during the first quarter. Federated Investors Inc. PA now owns 1,552 shares of the transportation company’s stock worth $48,000 after acquiring an additional 646 shares during the period. Pearl River Capital LLC bought a new position in ArcBest during the first quarter worth about $68,000. PNC Financial Services Group Inc. increased its position in ArcBest by 13.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock worth $107,000 after acquiring an additional 375 shares during the period. Finally, Neuburgh Advisers LLC increased its position in ArcBest by 15.1% during the fourth quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock worth $121,000 after acquiring an additional 462 shares during the period. Institutional investors own 99.08% of the company’s stock.
The business also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, May 13th. ArcBest’s dividend payout ratio is presently 8.29%.
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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