ArcBest (NASDAQ:ARCB) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

ArcBest (NASDAQ:ARCB) released its quarterly earnings results on Friday. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05), Briefing.com reports. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $1.54 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year.

ArcBest Trading Down 13.3 %

Shares of NASDAQ ARCB traded down $16.21 during mid-day trading on Friday, hitting $105.48. 672,610 shares of the company traded hands, compared to its average volume of 272,306. ArcBest has a 1 year low of $86.93 and a 1 year high of $153.60. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.98 and a beta of 1.48. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $110.64 and a two-hundred day moving average of $124.32.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, August 13th. ArcBest’s dividend payout ratio is 9.66%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ARCB shares. Bank of America increased their price target on ArcBest from $110.00 to $112.00 and gave the stock an “underperform” rating in a research note on Monday, July 22nd. StockNews.com cut ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Wells Fargo & Company initiated coverage on ArcBest in a research note on Friday, June 7th. They set an “overweight” rating and a $140.00 target price for the company. TD Cowen decreased their target price on ArcBest from $177.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley decreased their target price on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, ArcBest presently has an average rating of “Moderate Buy” and an average price target of $145.25.

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.