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

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

ArcBest Stock Performance

Shares of ARCB stock traded down $4.16 during midday trading on Friday, hitting $100.02. 589,804 shares of the company were exchanged, compared to its average volume of 285,275. The firm has a market capitalization of $2.37 billion, a P/E ratio of 18.91, a PEG ratio of 1.40 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. ArcBest has a 52 week low of $94.76 and a 52 week high of $153.60. The firm’s 50 day moving average price is $104.68 and its two-hundred day moving average price is $110.42.

ArcBest Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. ArcBest’s dividend payout ratio is currently 9.07%.

Insiders Place Their Bets

In other news, Director Salvatore A. Abbate bought 1,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the purchase, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ARCB shares. Jefferies Financial Group dropped their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. TD Cowen cut shares of ArcBest from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Monday, July 8th. Finally, Wells Fargo & Company lowered shares of ArcBest from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $122.00 to $112.00 in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $126.92.

About ArcBest

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.