Arko Corp. (NASDAQ:ARKO) Plans Quarterly Dividend of $0.03

Arko Corp. (NASDAQ:ARKO) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Monday, May 20th will be paid a dividend of 0.03 per share on Friday, May 31st. This represents a $0.12 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, May 17th.

Arko has a dividend payout ratio of 240.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Arko to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 24.5%.

Arko Price Performance

ARKO opened at $5.65 on Thursday. The firm has a market cap of $653.93 million, a price-to-earnings ratio of 21.73 and a beta of 0.36. Arko has a fifty-two week low of $4.09 and a fifty-two week high of $8.55. The company’s 50-day moving average price is $5.17 and its 200 day moving average price is $6.86. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 4.13.

Arko (NASDAQ:ARKO) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Arko had a net margin of 0.39% and a return on equity of 13.20%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business earned $0.09 earnings per share. As a group, sell-side analysts expect that Arko will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ARKO. Wells Fargo & Company reduced their target price on shares of Arko from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. BMO Capital Markets reduced their target price on shares of Arko from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, May 9th.

Insider Activity

In related news, major shareholder Morris Willner sold 2,792,631 shares of Arko stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.76, for a total value of $18,878,185.56. Following the completion of the sale, the insider now owns 11,683,980 shares of the company’s stock, valued at approximately $78,983,704.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.60% of the stock is currently owned by corporate insiders.

About Arko

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.