ArcBest Corp Declares Quarterly Dividend of $0.08 (NASDAQ:ARCB)

ArcBest Corp (NASDAQ:ARCB) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.08 per share by the transportation company on Tuesday, November 26th. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, November 8th.

Shares of ARCB stock traded down $0.43 during trading hours on Wednesday, hitting $31.18. 6,795 shares of the company were exchanged, compared to its average volume of 175,465. The firm has a fifty day simple moving average of $29.89 and a 200 day simple moving average of $28.66. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39. ArcBest has a 52-week low of $24.68 and a 52-week high of $42.38. The stock has a market capitalization of $753.87 million, a price-to-earnings ratio of 8.11 and a beta of 1.99.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.15. ArcBest had a net margin of 2.00% and a return on equity of 11.27%. The company had revenue of $787.56 million during the quarter, compared to analyst estimates of $797.16 million. During the same quarter last year, the business posted $1.49 EPS. ArcBest’s quarterly revenue was down 4.7% compared to the same quarter last year. Sell-side analysts anticipate that ArcBest will post 2.6 EPS for the current year.

A number of research analysts recently weighed in on ARCB shares. TheStreet upgraded shares of ArcBest from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. SunTrust Banks set a $35.00 price objective on shares of ArcBest and gave the company a “buy” rating in a research note on Wednesday, September 18th. Zacks Investment Research lowered shares of ArcBest from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. BidaskClub upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Citigroup reduced their price objective on shares of ArcBest from $34.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. ArcBest presently has an average rating of “Hold” and an average price target of $35.13.

ArcBest Company Profile

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Dividend History for ArcBest (NASDAQ:ARCB)

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