$1.59 EPS Expected for ArcBest Co. (NASDAQ:ARCB) This Quarter

Analysts expect ArcBest Co. (NASDAQ:ARCB) to report earnings per share (EPS) of $1.59 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for ArcBest’s earnings. The lowest EPS estimate is $1.40 and the highest is $1.66. ArcBest reported earnings per share of $0.67 in the same quarter last year, which would indicate a positive year-over-year growth rate of 137.3%. The business is expected to report its next quarterly earnings results before the market opens on Monday, August 2nd.

According to Zacks, analysts expect that ArcBest will report full-year earnings of $5.22 per share for the current year, with EPS estimates ranging from $4.85 to $5.60. For the next fiscal year, analysts forecast that the firm will post earnings of $5.50 per share, with EPS estimates ranging from $4.70 to $5.85. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover ArcBest.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Monday, May 3rd. The transportation company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.42. The business had revenue of $829.21 million during the quarter, compared to analysts’ expectations of $801.09 million. ArcBest had a return on equity of 12.68% and a net margin of 3.02%. ArcBest’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share.

Several research analysts have issued reports on the company. Cowen upped their price objective on ArcBest from $72.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Vertical Research upgraded shares of ArcBest from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, June 8th. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 4th. Zacks Investment Research raised shares of ArcBest from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Monday, May 31st. Finally, Truist raised their target price on shares of ArcBest from $55.00 to $84.00 in a research report on Thursday, April 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. ArcBest currently has a consensus rating of “Buy” and a consensus target price of $79.91.

In other news, VP Michael R. Johns sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $78.56, for a total value of $471,360.00. Following the transaction, the vice president now owns 37,565 shares of the company’s stock, valued at $2,951,106.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Judy R. Mcreynolds sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. The disclosure for this sale can be found here. Insiders sold a total of 103,536 shares of company stock worth $8,571,704 in the last 90 days. 1.98% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new position in ArcBest in the first quarter valued at about $37,000. Lazard Asset Management LLC lifted its holdings in shares of ArcBest by 54.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,204 shares of the transportation company’s stock worth $51,000 after purchasing an additional 426 shares during the last quarter. Dorsey Wright & Associates lifted its holdings in shares of ArcBest by 135.0% in the 1st quarter. Dorsey Wright & Associates now owns 752 shares of the transportation company’s stock worth $53,000 after purchasing an additional 432 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in shares of ArcBest in the 1st quarter worth approximately $204,000. Finally, GSA Capital Partners LLP acquired a new stake in ArcBest in the 1st quarter valued at approximately $226,000. Hedge funds and other institutional investors own 87.94% of the company’s stock.

Shares of ArcBest stock traded up $1.38 during trading on Friday, reaching $57.87. The company’s stock had a trading volume of 254,075 shares, compared to its average volume of 353,029. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a fifty day moving average price of $65.37. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 0.48 and a beta of 1.81. ArcBest has a one year low of $28.52 and a one year high of $93.96.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. ArcBest’s dividend payout ratio (DPR) is 9.91%.

About ArcBest

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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