ArcBest Corp (NASDAQ:ARCB) declared a quarterly dividend on Tuesday, October 30th, NASDAQ reports. Shareholders of record on Tuesday, November 13th will be given a dividend of 0.08 per share by the transportation company on Tuesday, November 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 9th.
ArcBest has increased its dividend by an average of 38.7% annually over the last three years. ArcBest has a payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect ArcBest to earn $3.58 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 8.9%.
ARCB opened at $42.15 on Thursday. ArcBest has a fifty-two week low of $29.40 and a fifty-two week high of $51.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.39 and a quick ratio of 1.31. The firm has a market cap of $1.06 billion, a PE ratio of 31.69, a PEG ratio of 0.28 and a beta of 2.26.
A number of research firms recently commented on ARCB. BidaskClub raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Loop Capital assumed coverage on ArcBest in a report on Monday, October 1st. They issued a “hold” rating and a $47.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 target price on shares of ArcBest in a report on Friday, August 3rd. Buckingham Research upped their target price on ArcBest from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Finally, Wolfe Research cut ArcBest from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $44.33.
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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