ArcBest (NASDAQ:ARCB) Announces Earnings Results

ArcBest (NASDAQ:ARCB - Get Free Report) announced its quarterly earnings results on Tuesday. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01), Zacks reports. The firm had revenue of $967.08 million for the quarter, compared to analysts' expectations of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. ArcBest's revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm earned $1.34 EPS.

ArcBest Price Performance

Shares of ARCB traded up $4.20 during trading hours on Friday, hitting $62.01. 533,928 shares of the company were exchanged, compared to its average volume of 301,733. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company has a market capitalization of $1.44 billion, a PE ratio of 8.46, a PEG ratio of 1.70 and a beta of 1.70. The firm has a fifty day simple moving average of $68.08 and a 200-day simple moving average of $89.98. ArcBest has a one year low of $55.19 and a one year high of $129.83.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.77%. ArcBest's dividend payout ratio (DPR) is presently 6.35%.

Insider Transactions at ArcBest

In other news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. The trade was a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARCB. Morgan Stanley reduced their price objective on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price objective on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their target price on ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, UBS Group dropped their target price on ArcBest from $100.00 to $64.00 and set a "neutral" rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $88.75.

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.