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

ArcBest (NASDAQ:ARCB) announced its earnings results on Friday. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20), Briefing.com reports. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS.

ArcBest Stock Down 4.0 %

ARCB traded down $4.16 during midday trading on Friday, hitting $100.02. 589,804 shares of the company’s stock traded hands, 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 has a market cap of $2.37 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.40 and a beta of 1.46. The stock’s fifty day simple moving average is $104.68 and its 200-day simple moving average is $110.42. ArcBest has a one year low of $94.76 and a one year high of $153.60.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In related news, Director Salvatore A. Abbate purchased 1,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the purchase, the director now owns 3,650 shares in the company, valued at $379,344.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARCB shares. Stifel Nicolaus lowered their price objective on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Jefferies Financial Group cut their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $126.92.

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.