Con-way Inc (CNW) Declares Quarterly Dividend of $0.10
Con-way (NYSE:CNW) declared a quarterly dividend on Tuesday, June 17th, Analyst Ratings Net reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.10 per share on Friday, September 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%.
A number of analysts have recently weighed in on CNW shares. Analysts at Wunderlich upgraded shares of Con-way from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $57.00 price target on the stock, up previously from $44.00. On a related note, analysts at Zacks upgraded shares of Con-way from an “underperform” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $45.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.38.
Con-way (NYSE:CNW) traded down 0.21% during mid-day trading on Tuesday, hitting $47.70. The stock had a trading volume of 559,615 shares. Con-way has a 52-week low of $36.34 and a 52-week high of $48.66. The stock’s 50-day moving average is $45.49 and its 200-day moving average is $41.3. The company has a market cap of $2.721 billion and a price-to-earnings ratio of 28.17.
Con-way (NYSE:CNW) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts predict that Con-way will post $2.15 earnings per share for the current fiscal year.
In other Con-way news, CFO Stephen L. Bruffett sold 22,466 shares of Con-way stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $48.04, for a total transaction of $1,079,266.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Con-way Inc and its subsidiaries (NYSE:CNW) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.
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