ArcBest Corporation (ARCB) To Go Ex-Dividend on May 8th

ArcBest Corporation (NASDAQ:ARCB) announced a quarterly dividend on Friday, April 24th. Investors of record on Friday, May 8th will be paid 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%per year over the last three years. ArcBest has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Research 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

ARCB opened at $121.41 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 50.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.55. The stock has a fifty day simple moving average of $103.49 and a two-hundred day simple moving average of $88.53. ArcBest has a 12-month low of $58.16 and a 12-month high of $135.10.

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

Analyst Upgrades and Downgrades

ARCB has been the subject of several recent research reports. Zacks Research upgraded shares of ArcBest from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on ArcBest from $85.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. UBS Group boosted their target price on ArcBest from $98.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Citigroup lifted their target price on shares of ArcBest from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, TD Cowen increased their price target on shares of ArcBest from $97.00 to $137.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.42.

ArcBest Company Profile

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.