ArcBest Corp (ARCB) to Issue $0.08 Quarterly Dividend

ArcBest Corp (NASDAQ:ARCB) declared a quarterly dividend on Tuesday, October 30th, NASDAQ reports. Investors of record on Tuesday, November 13th will be paid a dividend of 0.08 per share by the transportation company on Tuesday, November 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, November 9th.

ArcBest has increased its dividend payment by an average of 38.7% per year over the last three years. ArcBest has a payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ArcBest to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 9.2%.

Shares of ARCB opened at $41.57 on Friday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.32 and a beta of 2.26. ArcBest has a one year low of $29.40 and a one year high of $51.45. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Thursday, November 1st. The transportation company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32. The firm had revenue of $826.20 million during the quarter, compared to the consensus estimate of $815.82 million. ArcBest had a return on equity of 13.19% and a net margin of 2.92%. ArcBest’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, research analysts anticipate that ArcBest will post 3.26 EPS for the current year.

A number of research firms have commented on ARCB. Cowen reaffirmed a “hold” rating and set a $49.00 target price on shares of ArcBest in a report on Friday. Buckingham Research increased their target price on ArcBest from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. BidaskClub raised ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. ValuEngine downgraded ArcBest from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Morgan Stanley increased their target price on ArcBest from $38.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $44.33.

ArcBest Company Profile

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Dividend History for ArcBest (NASDAQ:ARCB)

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