ArcBest Corp (ARCB) Forecasted to Post FY2018 Earnings of $2.20 Per Share

ArcBest Corp (NASDAQ:ARCB) – Equities research analysts at KeyCorp decreased their FY2018 EPS estimates for ArcBest in a research report issued on Wednesday. KeyCorp analyst T. Fowler now expects that the transportation company will earn $2.20 per share for the year, down from their prior estimate of $2.25. KeyCorp also issued estimates for ArcBest’s FY2019 earnings at $2.50 EPS.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, January 31st. The transportation company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The business had revenue of $710.72 million for the quarter, compared to the consensus estimate of $723.69 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year.

Several other equities research analysts also recently commented on the stock. Stifel Nicolaus downgraded shares of ArcBest from a “hold” rating to a “sell” rating and lifted their target price for the stock from $27.00 to $32.00 in a research report on Wednesday, December 13th. Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, January 16th. BidaskClub upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Bank of America raised their price target on shares of ArcBest from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Finally, Buckingham Research raised their price target on shares of ArcBest from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.63.

ArcBest (NASDAQ:ARCB) traded up $0.65 during trading hours on Monday, reaching $34.80. 67,237 shares of the company traded hands, compared to its average volume of 357,363. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.32. ArcBest has a twelve month low of $16.95 and a twelve month high of $39.70. The firm has a market cap of $884.47, a P/E ratio of 25.37 and a beta of 1.71.

Hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas bought a new stake in ArcBest during the 4th quarter valued at $294,000. Stephens Inc. AR purchased a new stake in ArcBest in the third quarter worth approximately $299,000. Crossmark Global Holdings Inc. purchased a new stake in ArcBest in the third quarter worth approximately $414,000. BNP Paribas Arbitrage SA boosted its stake in ArcBest by 71.2% in the third quarter. BNP Paribas Arbitrage SA now owns 13,279 shares of the transportation company’s stock worth $444,000 after buying an additional 5,522 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in ArcBest by 6.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock worth $298,000 after buying an additional 870 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

In other ArcBest news, Director William Legg sold 6,153 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $37.52, for a total transaction of $230,860.56. Following the completion of the sale, the director now owns 36,147 shares in the company, valued at approximately $1,356,235.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice E. Stipp sold 3,700 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $38.09, for a total transaction of $140,933.00. Following the sale, the director now owns 20,200 shares of the company’s stock, valued at approximately $769,418. The disclosure for this sale can be found here. Insiders sold a total of 13,853 shares of company stock valued at $499,794 in the last quarter. 0.97% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th will be paid a $0.08 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. ArcBest’s dividend payout ratio is currently 14.29%.

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About ArcBest

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Earnings History and Estimates for ArcBest (NASDAQ:ARCB)

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