ArcBest Corp (ARCB) Expected to Announce Earnings of -$0.10 Per Share
Wall Street analysts expect ArcBest Corp (NASDAQ:ARCB) to report ($0.10) earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for ArcBest’s earnings. The lowest EPS estimate is ($0.23) and the highest is ($0.02). ArcBest reported earnings of ($0.22) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 54.5%. The business is expected to report its next quarterly earnings results on Friday, May 4th.
According to Zacks, analysts expect that ArcBest will report full-year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.40. For the next fiscal year, analysts expect that the firm will report earnings of $2.81 per share, with EPS estimates ranging from $2.50 to $3.80. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow ArcBest.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $710.72 million for the quarter, compared to analysts’ expectations of $723.69 million. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. ArcBest’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS.
Shares of ArcBest (ARCB) traded up $0.05 during mid-day trading on Friday, reaching $33.20. 202,281 shares of the company’s stock were exchanged, compared to its average volume of 344,511. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.30 and a quick ratio of 1.26. ArcBest has a 1-year low of $16.95 and a 1-year high of $39.70. The company has a market cap of $851.14, a PE ratio of 14.76 and a beta of 1.72.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. ArcBest’s dividend payout ratio (DPR) is currently 14.22%.
In related news, Director William Legg sold 6,153 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $37.52, for a total value of $230,860.56. Following the completion of the transaction, the director now directly owns 36,147 shares in the company, valued at $1,356,235.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janice E. Stipp sold 3,700 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.09, for a total transaction of $140,933.00. Following the completion of the transaction, the director now owns 20,200 shares of the company’s stock, valued at $769,418. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ARCB. Wells Fargo & Company MN grew its position in ArcBest by 49.2% in the second quarter. Wells Fargo & Company MN now owns 27,501 shares of the transportation company’s stock worth $566,000 after acquiring an additional 9,068 shares in the last quarter. New York State Common Retirement Fund lifted its stake in ArcBest by 1.6% in the second quarter. New York State Common Retirement Fund now owns 58,088 shares of the transportation company’s stock worth $1,197,000 after purchasing an additional 897 shares during the last quarter. Northern Trust Corp lifted its stake in ArcBest by 5.5% in the second quarter. Northern Trust Corp now owns 494,643 shares of the transportation company’s stock worth $10,190,000 after purchasing an additional 25,933 shares during the last quarter. Vanguard Group Inc. lifted its stake in ArcBest by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock worth $45,669,000 after purchasing an additional 83,738 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in ArcBest by 92.6% in the second quarter. California Public Employees Retirement System now owns 33,900 shares of the transportation company’s stock worth $698,000 after purchasing an additional 16,300 shares during the last quarter. Institutional investors own 87.16% of the company’s stock.
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ArcBest Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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