ArcBest Corporation (NASDAQ:ARCB) – Seaport Global Securities dropped their Q3 2017 earnings per share (EPS) estimates for ArcBest Corporation in a note issued to investors on Monday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.64. Seaport Global Securities also issued estimates for ArcBest Corporation’s Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.30 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.72 EPS and Q4 2018 earnings at $0.38 EPS.
ArcBest Corporation (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The firm had revenue of $720.40 million during the quarter, compared to the consensus estimate of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. ILLEGAL ACTIVITY NOTICE: “Seaport Global Securities Comments on ArcBest Corporation’s Q3 2017 Earnings (NASDAQ:ARCB)” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.com-unik.info/2017/08/12/seaport-global-securities-comments-on-arcbest-corporations-q3-2017-earnings-nasdaqarcb-updated.html.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Cowen and Company lifted their target price on ArcBest Corporation from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Deutsche Bank AG reduced their target price on ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating for the company in a report on Monday, May 8th. ValuEngine lowered ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.20.
ArcBest Corporation (NASDAQ:ARCB) opened at 26.50 on Tuesday. The company has a market cap of $680.79 million, a P/E ratio of 30.64 and a beta of 1.56. ArcBest Corporation has a 52 week low of $16.95 and a 52 week high of $33.95. The firm has a 50-day moving average price of $21.53 and a 200-day moving average price of $24.79.
Several hedge funds have recently bought and sold shares of the company. Mason Street Advisors LLC raised its stake in ArcBest Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after buying an additional 362 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in ArcBest Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares during the last quarter. Stephens Inc. AR raised its stake in ArcBest Corporation by 0.7% in the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock worth $227,000 after buying an additional 60 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in ArcBest Corporation during the first quarter worth approximately $291,000. Finally, Arizona State Retirement System raised its stake in ArcBest Corporation by 0.8% in the first quarter. Arizona State Retirement System now owns 12,416 shares of the transportation company’s stock worth $323,000 after buying an additional 100 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, August 4th. ArcBest Corporation’s payout ratio is 37.21%.
About ArcBest Corporation
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).
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