ArcBest Co. (ARCB) to Issue Quarterly Dividend of $0.12 on May 24th

ArcBest Co. (NASDAQ:ARCB) declared a quarterly dividend on Friday, April 26th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Thursday, May 9th.

ArcBest has increased its dividend by an average of 14.5% annually over the last three years. ArcBest has a payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.6 %

ArcBest stock traded up $0.75 during trading on Tuesday, reaching $118.74. The stock had a trading volume of 56,431 shares, compared to its average volume of 316,407. ArcBest has a 52-week low of $82.18 and a 52-week high of $153.60. The business has a 50 day moving average price of $137.12 and a 200 day moving average price of $126.16. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.79 billion, a PE ratio of 23.74, a P/E/G ratio of 0.57 and a beta of 1.56.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19). The company had revenue of $1.04 billion for 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 firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, analysts predict that ArcBest will post 9 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. 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 objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. StockNews.com cut shares of ArcBest from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.38.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.18% of the stock is owned by insiders.

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.