ArcBest Corp (NASDAQ:ARCB) – Equities research analysts at Seaport Global Securities cut their FY2019 EPS estimates for ArcBest in a research report issued to clients and investors on Tuesday, May 21st. Seaport Global Securities analyst K. Sterling now forecasts that the transportation company will post earnings of $3.18 per share for the year, down from their prior estimate of $3.61. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for ArcBest’s Q1 2020 earnings at $0.24 EPS, Q2 2020 earnings at $0.99 EPS and FY2020 earnings at $3.30 EPS.
ARCB has been the topic of a number of other reports. ValuEngine downgraded shares of ArcBest from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Cowen reiterated a “hold” rating and issued a $42.00 price objective on shares of ArcBest in a report on Thursday, January 31st. BidaskClub downgraded shares of ArcBest from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Bank of America reiterated an “underperform” rating and issued a $34.00 price objective (down from $45.00) on shares of ArcBest in a report on Tuesday, March 12th. Finally, Loop Capital lifted their price objective on shares of ArcBest from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 31st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $40.89.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.13). The firm had revenue of $711.84 million for the quarter, compared to the consensus estimate of $724.33 million. ArcBest had a return on equity of 14.19% and a net margin of 2.00%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.20%. ArcBest’s payout ratio is presently 8.29%.
Institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its stake in ArcBest by 145.8% in the third quarter. Morgan Stanley now owns 202,060 shares of the transportation company’s stock valued at $9,810,000 after purchasing an additional 119,864 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of ArcBest by 4.4% in the third quarter. Vanguard Group Inc. now owns 3,142,794 shares of the transportation company’s stock valued at $152,583,000 after buying an additional 132,068 shares during the period. Teachers Advisors LLC increased its stake in shares of ArcBest by 2.1% in the third quarter. Teachers Advisors LLC now owns 57,789 shares of the transportation company’s stock valued at $2,806,000 after buying an additional 1,189 shares during the period. Bank of Montreal Can increased its stake in shares of ArcBest by 10.9% in the fourth quarter. Bank of Montreal Can now owns 88,576 shares of the transportation company’s stock valued at $3,035,000 after buying an additional 8,732 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in shares of ArcBest by 507.7% in the fourth quarter. Eqis Capital Management Inc. now owns 35,417 shares of the transportation company’s stock valued at $1,213,000 after buying an additional 29,589 shares during the period. 98.42% of the stock is owned by 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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