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

ArcBest (NASDAQ:ARCB - Get Free Report) posted 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 net margin of 2.96% and a return on equity of 15.98%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year.

ArcBest Price Performance

NASDAQ ARCB traded down $4.16 on Friday, hitting $100.02. The company had a trading volume of 589,804 shares, compared to its average volume of 285,275. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. The company's fifty day moving average price is $104.68 and its 200-day moving average price is $110.42. The company has a market capitalization of $2.37 billion, a PE ratio of 18.91, a PEG ratio of 1.40 and a beta of 1.46. ArcBest has a 12-month low of $94.76 and a 12-month high of $153.60.

ArcBest Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company lowered ArcBest from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $122.00 to $112.00 in a research report on Wednesday, September 4th. Wolfe Research lowered shares of ArcBest from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Stephens restated an "overweight" rating and set a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. Jefferies Financial Group cut their price target on ArcBest from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reduced their price objective on ArcBest from $131.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, October 21st. One 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's stock. According to MarketBeat.com, ArcBest presently has a consensus rating of "Hold" and an average price target of $126.92.

Insider Activity

In related news, Director Salvatore A. Abbate purchased 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $103.93 per share, with a total value of $103,930.00. Following the purchase, the director now owns 3,650 shares of the company's stock, valued at $379,344.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.65% of the company's stock.

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.