ArcBest (NASDAQ:ARCB) Announces Quarterly Earnings Results, Misses Expectations By $0.19 EPS

ArcBest (NASDAQ:ARCB) posted its quarterly earnings data on Tuesday. The transportation company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.19), Yahoo Finance reports. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS.

ArcBest Stock Up 1.7 %

Shares of NASDAQ ARCB traded up $1.87 during trading hours on Thursday, hitting $110.23. 138,233 shares of the stock were exchanged, compared to its average volume of 315,572. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.59 billion, a PE ratio of 21.80, a PEG ratio of 0.48 and a beta of 1.56. The firm has a fifty day moving average price of $138.58 and a 200-day moving average price of $125.60. ArcBest has a 12 month low of $82.18 and a 12 month high of $153.60.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Analyst Ratings Changes

ARCB has been the topic of several analyst reports. TD Cowen dropped their target price on shares of ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective for the company. Stephens increased their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, UBS Group cut their target price on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, ArcBest currently has an average rating of “Moderate Buy” and a consensus target price of $143.38.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.65% of the stock is currently owned by company insiders.

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.