ArcBest Co. (NASDAQ:ARCB - Get Free Report) declared a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.12 per share by the transportation company on Friday, May 24th. This represents a $0.48 annualized dividend and a yield of 0.41%. The ex-dividend date is Thursday, May 9th.
ArcBest has raised its dividend payment by an average of 14.5% per year over the last three years. ArcBest has a payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ArcBest to earn $11.31 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 4.2%.
ArcBest Stock Performance
Shares of NASDAQ ARCB traded down $0.89 during trading hours on Tuesday, hitting $117.10. 345,449 shares of the stock were exchanged, compared to its average volume of 319,718. The firm has a market capitalization of $2.75 billion, a P/E ratio of 23.74, a P/E/G ratio of 0.57 and a beta of 1.56. ArcBest has a one year low of $82.18 and a one year high of $153.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. The company's 50 day moving average is $137.12 and its 200 day moving average is $126.16.
ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm's revenue was down 6.3% on a year-over-year basis. On average, research analysts expect that ArcBest will post 9 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. TD Cowen cut their price target on ArcBest from $177.00 to $148.00 and set a "buy" rating for the company in a report on Wednesday, May 1st. StockNews.com downgraded shares of ArcBest from a "buy" rating to a "hold" rating in a report on Thursday, May 2nd. Morgan Stanley increased their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 7th. Stephens boosted their price target on ArcBest from $165.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ArcBest in a research report on Monday, January 29th. They issued a "buy" rating and a $148.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.38.
View Our Latest Stock Analysis on ARCB
Insider Buying and Selling
In other news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.
About ArcBest
(
Get Free Report)
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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