ArcBest Corporation (NASDAQ:ARCB) to Issue $0.12 Quarterly Dividend

Key Points

• ArcBest Corporation has declared a quarterly dividend of $0.12 per share, payable on August 22nd, which reflects an annualized dividend of $0.48 and a yield of 0.57%.
• The company's dividend payout ratio stands at 6.6%, suggesting it is well supported by earnings, with future earnings projections allowing for an expected payout ratio of 4.8%.
• ArcBest reported earnings of $0.51 per share for the last quarter, falling short of the consensus estimate of $0.52, and experienced a 6.7% decrease in quarterly revenue year-over-year.
• Several analysts have recently raised their price targets for ArcBest stock, with most maintaining a "hold" rating, while the consensus price target now stands at $94.00.

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) declared a quarterly dividend on Friday, July 25th, RTT News reports. Investors of record on Friday, August 8th will be paid a dividend of 0.12 per share by the transportation company on Friday, August 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%.

ArcBest has a dividend payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.8%

NASDAQ ARCB opened at $84.85 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. ArcBest has a 52 week low of $55.19 and a 52 week high of $129.83. The stock has a market capitalization of $1.94 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.71. The firm has a 50 day moving average of $72.48 and a two-hundred day moving average of $76.09.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The company had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. During the same quarter in the previous year, the company posted $1.34 EPS. The company's quarterly revenue was down 6.7% on a year-over-year basis. As a group, research analysts expect that ArcBest will post 7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ARCB shares. UBS Group upped their price target on shares of ArcBest from $64.00 to $84.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Bank of America raised shares of ArcBest from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $63.00 to $74.00 in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company raised their price target on shares of ArcBest from $60.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $94.00.

Institutional Investors Weigh In On ArcBest

A number of hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its stake in ArcBest by 3.4% in the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company's stock valued at $1,421,000 after buying an additional 655 shares during the last quarter. Jane Street Group LLC raised its stake in shares of ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company's stock valued at $3,218,000 after purchasing an additional 33,537 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ArcBest by 215.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company's stock valued at $10,808,000 after purchasing an additional 104,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ArcBest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company's stock valued at $989,000 after purchasing an additional 619 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of ArcBest by 300.3% during the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company's stock valued at $1,898,000 after purchasing an additional 20,177 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.

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