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

ArcBest Co. (NASDAQ:ARCB) announced a quarterly dividend on Friday, April 26th, Zacks reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.12 per share by the transportation company on Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, May 9th.

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 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 Price Performance

NASDAQ:ARCB traded up $1.46 during mid-day trading on Tuesday, reaching $119.45. 11,781 shares of the stock were exchanged, compared to its average volume of 315,865. ArcBest has a 1-year low of $82.18 and a 1-year high of $153.60. The company has a current ratio of 1.23, a quick ratio of 1.26 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.81 billion, a PE ratio of 23.74, a PEG ratio of 0.57 and a beta of 1.56. The business has a fifty day moving average price of $137.12 and a 200 day moving average price of $126.16.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. ArcBest’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. Research analysts expect that ArcBest will post 9 earnings per share for the current fiscal year.

Insider Transactions at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARCB shares. Stifel Nicolaus raised their price target on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective for the company. JPMorgan Chase & Co. cut their target price on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen lowered their price objective on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ArcBest has a consensus rating of “Moderate Buy” and a consensus target price of $143.38.

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.