Arc Logistics Partners (ARCX) Releases Quarterly Earnings Results
Arc Logistics Partners (NASDAQ:ARCX) posted its quarterly earnings results on Wednesday. The company reported $0.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.08, Analyst Ratings Network.com reports. The company had revenue of $14.73 million for the quarter, compared to the consensus estimate of $13.88 million.
Shares of Arc Logistics Partners (NASDAQ:ARCX) traded up 2.04% on Wednesday, hitting $25.00. 4,933 shares of the company’s stock traded hands. Arc Logistics Partners has a 52-week low of $18.69 and a 52-week high of $26.89. The stock has a 50-day moving average of $25.03 and a 200-day moving average of $22.83. The company has a market cap of $323.7 million and a price-to-earnings ratio of 80.86.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 18th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Thursday, August 7th.
On a related note, analysts at Zacks upgraded shares of Arc Logistics Partners from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. They now have a $26.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Arc Logistics Partners presently has an average rating of “Hold” and an average price target of $23.00.
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