Wall Street analysts predict that ArcBest Co. (NASDAQ:ARCB) will post $965.47 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for ArcBest's earnings. The highest sales estimate is $991.40 million and the lowest is $950.90 million. ArcBest reported sales of $794.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 21.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 2nd.
On average, analysts expect that ArcBest will report full year sales of $3.64 billion for the current financial year, with estimates ranging from $3.60 billion to $3.71 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.76 billion, with estimates ranging from $3.66 billion to $3.80 billion. Zacks Investment Research's sales calculations are an average based on a survey of research analysts that follow ArcBest.
ArcBest (NASDAQ:ARCB) last released its earnings results on Sunday, August 1st. The transportation company reported $1.97 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.63 by $0.34. ArcBest had a return on equity of 16.42% and a net margin of 4.06%. The business had revenue of $949.00 million for the quarter, compared to the consensus estimate of $931.98 million. ArcBest's revenue for the quarter was up 51.3% compared to the same quarter last year.
ARCB has been the subject of several recent analyst reports. Cowen boosted their price target on ArcBest from $93.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 3rd. The Goldman Sachs Group cut ArcBest from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $83.00 to $71.00 in a research note on Monday, June 7th. Zacks Investment Research upgraded ArcBest from a "hold" rating to a "buy" rating and set a $88.00 price target for the company in a research note on Monday, May 31st. Morgan Stanley boosted their price target on ArcBest from $90.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, May 27th. Finally, Truist Securities reduced their price objective on ArcBest from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, June 29th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ArcBest has a consensus rating of "Buy" and a consensus target price of $80.91.
A number of institutional investors have recently made changes to their positions in ARCB. EAM Global Investors LLC bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $2,593,000. Cornercap Investment Counsel Inc. bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $766,000. TD Asset Management Inc. bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $725,000. Janney Montgomery Scott LLC lifted its stake in shares of ArcBest by 2.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,353 shares of the transportation company's stock valued at $658,000 after purchasing an additional 265 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of ArcBest by 2.6% in the 1st quarter. Federated Hermes Inc. now owns 30,645 shares of the transportation company's stock valued at $2,156,000 after purchasing an additional 781 shares during the last quarter. 89.95% of the stock is owned by institutional investors.
ArcBest stock opened at $67.92 on Wednesday. ArcBest has a 12 month low of $28.52 and a 12 month high of $93.96. The business's fifty day simple moving average is $63.80 and its two-hundred day simple moving average is $68.11. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.46 and a beta of 1.79.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 25th. Stockholders of record on Wednesday, August 11th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, August 10th. ArcBest's dividend payout ratio (DPR) is 9.91%.
ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.
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