Analysts Expect ArcBest Corp (ARCB) Will Announce Earnings of $1.10 Per Share
Wall Street brokerages expect ArcBest Corp (NASDAQ:ARCB) to announce earnings per share of $1.10 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for ArcBest’s earnings, with the highest EPS estimate coming in at $1.18 and the lowest estimate coming in at $1.00. ArcBest posted earnings per share of $0.59 in the same quarter last year, which indicates a positive year-over-year growth rate of 86.4%. The business is scheduled to issue its next quarterly earnings report on Friday, November 2nd.
According to Zacks, analysts expect that ArcBest will report full-year earnings of $3.24 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.35. For the next financial year, analysts expect that the business will post earnings of $3.42 per share, with EPS estimates ranging from $2.80 to $3.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover ArcBest.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, July 31st. The transportation company reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.13. The business had revenue of $793.35 million for the quarter, compared to analyst estimates of $786.86 million. ArcBest had a net margin of 2.12% and a return on equity of 9.88%.
Shares of ARCB stock traded down $0.20 during trading on Monday, reaching $48.60. The company’s stock had a trading volume of 142,199 shares, compared to its average volume of 189,893. 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 has a market cap of $1.25 billion, a PE ratio of 36.54, a P/E/G ratio of 0.37 and a beta of 2.09. ArcBest has a one year low of $27.90 and a one year high of $50.45.
The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, August 9th. ArcBest’s dividend payout ratio (DPR) is currently 24.06%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Globeflex Capital L P bought a new position in shares of ArcBest in the second quarter valued at about $133,000. C M Bidwell & Associates Ltd. bought a new position in shares of ArcBest in the first quarter valued at about $106,000. Meeder Asset Management Inc. raised its position in shares of ArcBest by 184.3% in the second quarter. Meeder Asset Management Inc. now owns 3,997 shares of the transportation company’s stock valued at $183,000 after purchasing an additional 2,591 shares during the period. Capital Fund Management S.A. bought a new position in shares of ArcBest in the second quarter valued at about $201,000. Finally, Marshall Wace LLP bought a new position in shares of ArcBest in the second quarter valued at about $210,000. 94.68% of the stock is currently owned by hedge funds and other institutional investors.
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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