ArcBest Co. (ARCB) To Go Ex-Dividend on May 9th

ArcBest Co. (NASDAQ:ARCB) announced a quarterly dividend on Friday, April 25th, RTT News reports. Investors of record on Friday, May 9th will be given a dividend of 0.12 per share by the transportation company on Friday, May 23rd. This represents a $0.48 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, May 9th.

ArcBest has increased its dividend payment by an average of 14.5% per year over the last three years. ArcBest has a dividend payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ArcBest to earn $9.97 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 4.8%.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $58.57 on Wednesday. ArcBest has a one year low of $55.19 and a one year high of $129.83. The company has a market capitalization of $1.36 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The stock has a fifty day moving average of $67.28 and a 200-day moving average of $89.25.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $967.08 million for the quarter, compared to analysts’ expectations of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. ArcBest’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 earnings per share. As a group, equities analysts anticipate that ArcBest will post 7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley purchased 700 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

ARCB has been the topic of several recent analyst reports. Bank of America dropped their price target on ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 12th. TD Cowen dropped their price objective on shares of ArcBest from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. StockNews.com lowered shares of ArcBest from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Morgan Stanley reduced their price objective on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial dropped their target price on ArcBest from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.75.

ArcBest Company Profile

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.