ArcBest Co. (ARCB) To Go Ex-Dividend on November 13th

ArcBest Co. (NASDAQ:ARCB) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.12 per share by the transportation company on Wednesday, November 27th. This represents a $0.48 annualized dividend and a yield of 0.48%. The ex-dividend date is Wednesday, November 13th.

ArcBest has increased its dividend by an average of 14.5% per year over the last three years. ArcBest has a payout ratio of 5.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ArcBest to earn $9.45 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 Stock Performance

ArcBest stock traded down $4.74 during midday trading on Friday, reaching $99.44. The stock had a trading volume of 118,567 shares, compared to its average volume of 283,052. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $104.90 and its 200 day moving average price is $110.77. The firm has a market capitalization of $2.35 billion, a PE ratio of 19.34, a P/E/G ratio of 1.40 and a beta of 1.46. ArcBest has a 12 month low of $94.76 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. ArcBest’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. As a group, research analysts predict that ArcBest will post 6.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America cut their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Citigroup initiated coverage on ArcBest in a research report on Wednesday, October 9th. They set a “neutral” rating and a $111.00 target price on the stock. The Goldman Sachs Group dropped their target price on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley decreased their price objective on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Monday, July 8th. Finally, Stifel Nicolaus reduced their target price on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $126.92.

Insider Transactions at ArcBest

In related news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is currently owned by corporate insiders.

About ArcBest

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.