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

ArcBest Co. (NASDAQ:ARCB) declared a quarterly dividend on Friday, April 26th, Zacks reports. Stockholders 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 dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, May 9th.

ArcBest has increased its dividend by an average of 14.5% annually over the last three years. ArcBest has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. 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 Down 0.8 %

Shares of NASDAQ ARCB opened at $117.10 on Wednesday. The business has a 50-day simple moving average of $136.61 and a two-hundred day simple moving average of $126.32. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60. The company has a market cap of $2.75 billion, a P/E ratio of 23.56, a P/E/G ratio of 0.57 and a beta of 1.56. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data 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). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Research analysts anticipate that ArcBest will post 9 earnings per share for the current fiscal year.

Insider Activity

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now directly 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 accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARCB. Bank of America dropped their price target on ArcBest from $143.00 to $110.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price target for the company. Stifel Nicolaus boosted their target price on ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley raised their price target on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.38.

About ArcBest

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.