These Analysts Revise Their Forecasts On ArcBest Following Q2 Results
Portfolio Pulse from Avi Kapoor
ArcBest Corporation (NASDAQ:ARCB) reported worse-than-expected Q2 adjusted EPS results, missing consensus estimates. Despite this, revenue was slightly above expectations. Analysts revised their price targets, with JP Morgan increasing and TD Cowen decreasing their targets. ArcBest declared a quarterly dividend and highlighted operational improvements.
August 05, 2024 | 5:42 pm
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ArcBest reported Q2 adjusted EPS of $1.98, missing the consensus of $2.06, but revenue of $1.08 billion beat expectations. Analysts revised their price targets, with JP Morgan increasing to $134 and TD Cowen decreasing to $136. ArcBest declared a quarterly dividend of $0.12 per share.
The mixed earnings results and subsequent analyst revisions suggest a neutral short-term impact. The missed EPS could weigh on the stock, but the revenue beat and dividend declaration provide some positive offset.
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