ArcBest (NASDAQ:ARCB) Posts Quarterly Earnings Results, Misses Estimates By $0.20 EPS

ArcBest (NASDAQ:ARCB) released its earnings results on Friday. The transportation company reported $1.64 earnings per share (EPS) 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 business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year.

ArcBest Price Performance

Shares of ArcBest stock opened at $100.02 on Friday. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $104.68 and a 200-day moving average price of $110.15. ArcBest has a one year low of $94.76 and a one year high of $153.60.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is 9.07%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus cut their target price on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Morgan Stanley cut their target price on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Bank of America cut their target price on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company cut ArcBest from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $122.00 to $112.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, ArcBest currently has a consensus rating of “Hold” and an average price target of $126.92.

Insider Transactions at ArcBest

In related news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.65% of the company’s stock.

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.