Arc Logistic Partners LP (NYSE:ARCX) announced a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Shareholders of record on Wednesday, November 8th will be paid a dividend of 0.44 per share by the pipeline company on Wednesday, November 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 10.62%. The ex-dividend date is Tuesday, November 7th.
Arc Logistic Partners has a dividend payout ratio of 258.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Arc Logistic Partners to earn $0.90 per share next year, which means the company may not be able to cover its $1.76 annual dividend with an expected future payout ratio of 195.6%.
Shares of Arc Logistic Partners (NYSE:ARCX) opened at 16.57 on Friday. Arc Logistic Partners has a one year low of $12.86 and a one year high of $17.40. The firm has a market cap of $323.86 million, a P/E ratio of 27.25 and a beta of 0.81. The firm has a 50 day moving average price of $16.66 and a 200-day moving average price of $15.28.
Arc Logistic Partners (NYSE:ARCX) last released its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $26.59 million during the quarter, compared to the consensus estimate of $26.71 million. Arc Logistic Partners had a return on equity of 4.10% and a net margin of 13.28%. Analysts forecast that Arc Logistic Partners will post $0.68 earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Arc Logistic Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. SunTrust Banks, Inc. cut Arc Logistic Partners from a “buy” rating to a “hold” rating and increased their target price for the company from $15.00 to $16.50 in a research note on Wednesday, August 30th. Finally, Stifel Nicolaus raised Arc Logistic Partners from a “hold” rating to a “buy” rating and increased their target price for the company from $13.00 to $18.00 in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Arc Logistic Partners has a consensus rating of “Hold” and an average target price of $18.33.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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