ArcBest (ARCB) Expected to Post Earnings of -$0.07 Per Share

Wall Street brokerages predict that ArcBest (NASDAQ:ARCB) will report earnings per share (EPS) of ($0.07) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ArcBest’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.02). ArcBest reported earnings per share of ($0.22) during the same quarter last year, which indicates a positive year over year growth rate of 68.2%. The business is expected to issue its next earnings results after the market closes on Thursday, May 10th.

According to Zacks, analysts expect that ArcBest will report full year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.45. For the next financial year, analysts expect that the company will report earnings of $2.68 per share, with EPS estimates ranging from $2.50 to $2.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for ArcBest.

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



Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of ArcBest from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. Stephens reaffirmed a “hold” rating and set a $37.00 price target on shares of ArcBest in a research note on Thursday, April 12th. Stifel Nicolaus raised shares of ArcBest from a “sell” rating to a “hold” rating and dropped their price target for the company from $35.00 to $32.00 in a research note on Monday, April 2nd. ValuEngine raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of ArcBest in a research note on Tuesday, January 16th. Ten research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.78.

Shares of ARCB stock traded down $0.90 during trading hours on Tuesday, hitting $33.75. 232,877 shares of the company’s stock traded hands, compared to its average volume of 272,050. The company has a market capitalization of $865.42, a P/E ratio of 24.82 and a beta of 1.76. ArcBest has a 12 month low of $16.95 and a 12 month high of $39.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.30 and a current ratio of 1.30.

A number of hedge funds and other institutional investors have recently made changes to their positions in ARCB. Elkfork Partners LLC bought a new position in ArcBest during the fourth quarter worth $113,000. ETRADE Capital Management LLC acquired a new stake in ArcBest in the fourth quarter worth $210,000. PEAK6 Investments L.P. acquired a new stake in ArcBest in the fourth quarter worth $231,000. Stone Ridge Asset Management LLC acquired a new stake in ArcBest in the fourth quarter worth $243,000. Finally, Koch Industries Inc. acquired a new stake in ArcBest in the fourth quarter worth $276,000. 88.61% of the stock is owned by institutional investors and hedge funds.

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About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Earnings History and Estimates for ArcBest (NASDAQ:ARCB)

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