ArcBest Corp (NASDAQ:ARCB) – Investment analysts at Seaport Global Securities lowered their Q1 2019 EPS estimates for ArcBest in a research note issued on Friday, March 29th, Zacks Investment Research reports. Seaport Global Securities analyst W. Milby now forecasts that the transportation company will post earnings per share of $0.27 for the quarter, down from their prior forecast of $0.35. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for ArcBest’s FY2019 earnings at $3.61 EPS and FY2020 earnings at $3.86 EPS.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Wednesday, January 30th. The transportation company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $774.28 million during the quarter, compared to analysts’ expectations of $767.78 million. ArcBest had a net margin of 2.17% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS.
Shares of ArcBest stock traded down $1.27 during trading on Monday, hitting $32.42. The company’s stock had a trading volume of 159,678 shares, compared to its average volume of 259,541. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $860.44 million, a price-to-earnings ratio of 8.40, a PEG ratio of 3.21 and a beta of 2.11. ArcBest has a 52 week low of $30.16 and a 52 week high of $51.45.
Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in ArcBest by 45.3% during the fourth quarter. American Century Companies Inc. now owns 377,868 shares of the transportation company’s stock worth $12,946,000 after buying an additional 117,847 shares during the period. Geode Capital Management LLC boosted its stake in ArcBest by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 306,006 shares of the transportation company’s stock worth $10,483,000 after buying an additional 12,432 shares during the period. Norges Bank purchased a new position in ArcBest during the fourth quarter worth $2,883,000. Millennium Management LLC boosted its stake in ArcBest by 34.7% during the fourth quarter. Millennium Management LLC now owns 93,200 shares of the transportation company’s stock worth $3,193,000 after buying an additional 24,031 shares during the period. Finally, One Wealth Advisors LLC boosted its stake in ArcBest by 6.3% during the fourth quarter. One Wealth Advisors LLC now owns 15,572 shares of the transportation company’s stock worth $533,000 after buying an additional 927 shares during the period. 94.31% of the stock is currently owned by hedge funds and other institutional investors.
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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