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 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, November 9th.
ArcBest has raised its dividend payment by an average of 38.7% annually over the last three years. ArcBest has a dividend payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. 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%.
NASDAQ:ARCB opened at $41.57 on Friday. ArcBest has a one year low of $29.40 and a one year high of $51.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap 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.
ARCB has been the topic of several research reports. Wolfe Research lowered shares of ArcBest from a “peer perform” rating to an “underperform” rating in a research note on Friday, October 5th. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Stifel Nicolaus reissued a “hold” rating and set a $46.00 price objective on shares of ArcBest in a research note on Friday, August 3rd. Cowen boosted their price objective on shares of ArcBest from $41.00 to $46.00 and gave the stock a “market perform” rating in a research note on Thursday, August 2nd. Finally, Bank of America boosted their price objective on shares of ArcBest from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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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