ArcBest Co. Declares Quarterly Dividend of $0.12 (NASDAQ:ARCB)

ArcBest Co. (NASDAQ:ARCB - Get Free Report) declared a quarterly dividend on Friday, April 25th, RTT News reports. Investors of record on Friday, May 9th will be given a dividend of 0.12 per share by the transportation company on Friday, May 23rd. This represents a $0.48 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, May 9th.

ArcBest has raised its dividend by an average of 14.5% annually over the last three years. ArcBest has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ArcBest to earn $9.97 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 4.8%.

ArcBest Stock Up 1.9 %

ARCB stock traded up $1.06 during midday trading on Wednesday, hitting $57.79. The company's stock had a trading volume of 256,926 shares, compared to its average volume of 301,873. The company's fifty day moving average price is $69.64 and its 200 day moving average price is $90.83. ArcBest has a twelve month low of $55.19 and a twelve month high of $129.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market capitalization of $1.34 billion, a P/E ratio of 7.88, a PEG ratio of 1.70 and a beta of 1.62.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. ArcBest's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. As a group, equities research analysts predict that ArcBest will post 7 EPS for the current year.

Analysts Set New Price Targets

ARCB has been the topic of several research analyst reports. UBS Group cut their target price on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their price target on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday. Bank of America lowered their price objective on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley lowered their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial dropped their target price on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ArcBest currently has an average rating of "Hold" and an average target price of $88.75.

Insider Buying and Selling at ArcBest

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is currently owned by company insiders.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.