Arc Logistic Partners LP (NYSE:ARCX) announced a quarterly dividend on Monday, July 31st, Wall Street Journal reports. Investors of record on Tuesday, August 8th will be paid a dividend of 0.44 per share by the pipeline company on Tuesday, August 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.06%. The ex-dividend date of this dividend is Friday, August 4th.
Arc Logistic Partners has a dividend payout ratio of 288.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Arc Logistic Partners to earn $0.78 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 225.6%.
Arc Logistic Partners (ARCX) opened at 14.59 on Friday. The company’s 50-day moving average price is $15.06 and its 200 day moving average price is $14.79. Arc Logistic Partners has a 12 month low of $12.86 and a 12 month high of $17.40. The firm has a market capitalization of $285.16 million, a price-to-earnings ratio of 24.00 and a beta of 0.83.
Arc Logistic Partners (NYSE:ARCX) last announced its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $26.59 million for the quarter, compared to analysts’ expectations of $26.71 million. Arc Logistic Partners had a return on equity of 4.10% and a net margin of 13.28%. Analysts predict that Arc Logistic Partners will post $0.77 EPS for the current year.
ARCX has been the subject of a number of recent analyst reports. Zacks Investment Research raised Arc Logistic Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine downgraded Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus raised Arc Logistic Partners from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $18.00 in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.00.
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Arc Logistic Partners Company Profile
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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