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

ArcBest Co. (NASDAQ:ARCB) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Tuesday, August 13th will be paid a dividend of 0.12 per share by the transportation company on Tuesday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Tuesday, August 13th.

ArcBest has increased its dividend by an average of 14.5% per year over the last three years. ArcBest has a dividend payout ratio of 4.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect ArcBest to earn $10.89 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 4.4%.

ArcBest Trading Down 1.1 %

Shares of ARCB traded down $1.41 on Wednesday, hitting $122.91. 5,515 shares of the stock traded hands, compared to its average volume of 298,577. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.88 billion, a P/E ratio of 25.01, a P/E/G ratio of 0.98 and a beta of 1.48. The stock’s 50 day moving average is $109.94 and its two-hundred day moving average is $124.41. ArcBest has a 1 year low of $86.93 and a 1 year high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 EPS. As a group, sell-side analysts predict that ArcBest will post 8.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ARCB. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Stifel Nicolaus dropped their price objective on shares of ArcBest from $159.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. UBS Group dropped their price objective on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley dropped their price objective on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Finally, The Goldman Sachs Group raised their price target on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.85.

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.