Con-way Sets New 1-Year High Following Dividend Announcement (CNW)
Shares of Con-way (NYSE:CNW) hit a new 52-week high on Thursday following a dividend announcement from the company, American Banking News.com reports. The stock traded as high as $49.14 and last traded at $48.89, with a volume of 309,663 shares. The stock had previously closed at $48.74.
The newly announced dividend is scheduled for Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, August 13th.
Several analysts have recently commented on the stock. Analysts at Wunderlich upgraded shares of Con-way from a “hold” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $57.00 price target on the stock, up previously from $44.00. Separately, 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Con-way has a consensus rating of “Buy” and a consensus target price of $46.38.
The stock has a 50-day moving average of $45.74 and a 200-day moving average of $41.40. The company has a market cap of $2.790 billion and a price-to-earnings ratio of 28.72.
Con-way (NYSE:CNW) last released its earnings data on Wednesday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the 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, SVP Leslie P. Lundberg sold 2,000 shares of Con-way stock on the open market in a transaction dated Friday, June 13th. The stock was sold at an average price of $48.25, for a total value of $96,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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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