ArcBest Corporation (ARCB) to Distribute Quarterly Dividend of $0.12 on August 21st

ArcBest Corporation (NASDAQ:ARCB) declared a quarterly dividend on Friday, July 24th. Stockholders of record on Friday, August 7th will be given a dividend of 0.12 per share by the transportation company on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 7th.

ArcBest has increased its dividend payment by an average of 0.1%per year over the last three years. ArcBest has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ArcBest to earn $9.50 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 Price Performance

Shares of ARCB stock opened at $144.31 on Wednesday. ArcBest has a 12 month low of $59.43 and a 12 month high of $176.69. The company has a market capitalization of $3.21 billion, a PE ratio of 209.14, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The firm’s 50-day moving average is $149.47 and its two-hundred day moving average is $120.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.12. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. Analysts predict that ArcBest will post 6.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARCB. Wells Fargo & Company increased their price objective on shares of ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, June 5th. Wall Street Zen upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Bank of America raised their price target on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Citigroup lowered their price objective on ArcBest from $178.00 to $171.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stephens upgraded shares of ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $154.23.

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.