ArcBest (NASDAQ:ARCB) Issues Quarterly Earnings Results, Misses Expectations By $0.20 EPS

ArcBest (NASDAQ:ARCB) issued its quarterly earnings results on Friday. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20), Briefing.com reports. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $2.31 earnings per share. ArcBest’s revenue for the quarter was down 5.8% on a year-over-year basis.

ArcBest Stock Down 4.0 %

ARCB stock opened at $100.02 on Friday. ArcBest has a fifty-two week low of $94.76 and a fifty-two week high of $153.60. The business’s 50-day moving average is $104.68 and its two-hundred day moving average is $110.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.40 and a beta of 1.46.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, November 13th. ArcBest’s dividend payout ratio is 9.07%.

Insider Buying and Selling at ArcBest

In related news, Director Salvatore A. Abbate acquired 1,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the purchase, the director now directly owns 3,650 shares of the company’s stock, valued at $379,344.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Jefferies Financial Group cut their target price on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut their target price on ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and cut their target price for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.92.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.