Why Is Logistics Company ArcBest Stock Plunging Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 02 2024
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Source: Benzinga
Financial Performance: ArcBest Corp reported Q2 FY24 revenue of $1.08 billion, exceeding expectations, with adjusted EBITDA rising to $94.8 million; however, adjusted EPS missed consensus estimates at $1.98.
Operational Insights: The company experienced a decline in asset-based tonnage and shipments but maintained pricing momentum, while asset-light revenues fell due to lower margins; they also declared a quarterly cash dividend of $0.12 per share.
Analyst Views on NRSH
Wall Street analysts forecast NRSH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NRSH is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 25.441
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Current: 25.441
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
