ArcBest (NASDAQ:ARCB) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

ArcBest (NASDAQ:ARCB - Get Free Report) issued its quarterly earnings data on Tuesday. The transportation company reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.19), Yahoo Finance reports. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.58 EPS. The firm's revenue for the quarter was down 6.3% on a year-over-year basis.

ArcBest Price Performance

Shares of ArcBest stock traded down $2.55 during trading on Wednesday, reaching $108.36. 563,228 shares of the stock traded hands, compared to its average volume of 317,799. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 0.56 and a beta of 1.49. ArcBest has a 52-week low of $82.18 and a 52-week high of $153.60. The business has a fifty day simple moving average of $139.19 and a two-hundred day simple moving average of $125.72.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, May 9th. ArcBest's dividend payout ratio (DPR) is presently 6.07%.

Wall Street Analysts Forecast Growth

ARCB has been the topic of a number of research reports. Stephens raised their price target on ArcBest from $165.00 to $205.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. The Goldman Sachs Group raised their target price on ArcBest from $133.00 to $149.00 and gave the stock a "neutral" rating in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of ArcBest in a research report on Monday, January 29th. They set a "buy" rating and a $148.00 price target for the company. Bank of America dropped their price objective on shares of ArcBest from $143.00 to $110.00 and set an "underperform" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on shares of ArcBest from $164.00 to $145.00 and set an "overweight" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.38.

Insider Activity at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now owns 32,247 shares of the company's stock, valued at approximately $4,565,530.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.18% of the stock is owned by corporate insiders.

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.