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

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

ArcBest has increased its dividend by an average of 14.5% per year over the last three years. ArcBest has a payout ratio of 5.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ArcBest to earn $9.45 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 5.1%.

ArcBest Stock Down 4.5 %

Shares of NASDAQ:ARCB traded down $4.74 during midday trading on Friday, reaching $99.44. The company’s stock had a trading volume of 118,567 shares, compared to its average volume of 283,052. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.35 billion, a P/E ratio of 19.34, a PEG ratio of 1.40 and a beta of 1.46. ArcBest has a 12-month low of $94.76 and a 12-month high of $153.60. The firm has a 50 day moving average of $104.90 and a 200-day moving average of $110.77.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share. On average, research analysts anticipate that ArcBest will post 6.89 earnings per share for the current year.

Insider Activity at ArcBest

In other news, Director Salvatore A. Abbate bought 1,000 shares of ArcBest stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $103.93 per share, with a total value of $103,930.00. Following the purchase, the director now directly owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Bank of America lowered their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group lowered their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.92.

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.