ArcBest Corporation (ARCB) to Issue Quarterly Dividend of $0.12 on May 22nd

ArcBest Corporation (NASDAQ:ARCB) declared a quarterly dividend on Friday, April 24th. Investors of record on Friday, May 8th will be given a dividend of 0.12 per share by the transportation company on Friday, May 22nd. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 8th.

ArcBest has raised its dividend by an average of 0.1%annually over the last three years. ArcBest has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Analysts expect ArcBest to earn $8.17 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 5.9%.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $121.17 on Wednesday. ArcBest has a 52 week low of $58.16 and a 52 week high of $135.10. The company has a 50-day moving average price of $103.49 and a 200 day moving average price of $88.53. The company has a market cap of $2.70 billion, a P/E ratio of 49.57, a PEG ratio of 0.63 and a beta of 1.55. The company has a quick ratio of 0.95, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $998.79 million for the quarter, compared to analysts’ expectations of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. Research analysts predict that ArcBest will post 5.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ARCB shares. JPMorgan Chase & Co. increased their price objective on ArcBest from $85.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group boosted their target price on shares of ArcBest from $102.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Stifel Nicolaus upped their price target on shares of ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company increased their price target on shares of ArcBest from $85.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.42.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.