ArcBest (ARCB) to Release Earnings on Friday

ArcBest (NASDAQ:ARCB - Get Free Report) is set to post its quarterly earnings results before the market opens on Friday, November 1st. Analysts expect ArcBest to post earnings of $2.05 per share for the quarter. Parties interested in listening to the company's conference call can do so using this link.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $1.54 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts expect ArcBest to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

ArcBest Price Performance

Shares of NASDAQ:ARCB traded up $2.18 during midday trading on Friday, reaching $103.78. 177,380 shares of the company's stock traded hands, compared to its average volume of 284,997. The company has a fifty day simple moving average of $105.10 and a two-hundred day simple moving average of $112.01. ArcBest has a 1 year low of $86.93 and a 1 year high of $153.60. The company has a market cap of $2.43 billion, a P/E ratio of 20.88, a PEG ratio of 1.28 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.46%. The ex-dividend date was Tuesday, August 13th. ArcBest's payout ratio is 9.66%.

Analyst Ratings Changes

A number of analysts have recently commented on ARCB shares. Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. TD Cowen cut ArcBest from a "buy" rating to a "hold" rating and reduced their target price for the company from $131.00 to $114.00 in a report on Monday, October 14th. Citigroup assumed coverage on ArcBest in a research note on Wednesday, October 9th. They issued a "neutral" rating and a $111.00 price target on the stock. Wolfe Research downgraded ArcBest from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley decreased their price objective on ArcBest from $180.00 to $176.00 and set an "overweight" rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $126.92.

Insider Buying and Selling

In other ArcBest news, Director Salvatore A. Abbate acquired 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, for a total transaction of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares of the company's stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.65% of the stock is 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.