Forward Air Corporation (NASDAQ:FWRD) Releases Q4 Earnings Guidance

Forward Air Corporation (NASDAQ:FWRD) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.60-0.64 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.65. The company issued revenue guidance of $297-307 million, compared to the consensus revenue estimate of $294.52 million.

Several equities research analysts recently commented on the company. Zacks Investment Research lowered Forward Air Corporation from a buy rating to a hold rating in a research report on Tuesday, August 1st. Cowen and Company reissued a hold rating and issued a $51.00 price objective on shares of Forward Air Corporation in a research note on Thursday, August 10th. BidaskClub downgraded Forward Air Corporation from a hold rating to a sell rating in a research report on Monday, July 24th. Robert W. Baird reissued a hold rating and issued a $60.00 target price on shares of Forward Air Corporation in a research report on Friday, October 6th. Finally, KeyCorp reissued a hold rating on shares of Forward Air Corporation in a research note on Friday, September 22nd. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $55.33.

Shares of Forward Air Corporation (NASDAQ:FWRD) traded down $0.23 during trading hours on Friday, reaching $55.53. The company had a trading volume of 85,500 shares, compared to its average volume of 128,077. Forward Air Corporation has a 52 week low of $43.88 and a 52 week high of $59.97. The stock has a market cap of $1,660.10, a P/E ratio of 24.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71.

Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $278.75 million. Forward Air Corporation had a return on equity of 13.76% and a net margin of 6.10%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. equities research analysts anticipate that Forward Air Corporation will post 2.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. Forward Air Corporation’s dividend payout ratio is presently 28.17%.

In other Forward Air Corporation news, insider Michael P. Mclean sold 4,984 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $54.82, for a total value of $273,222.88. Following the completion of the sale, the insider now owns 13,401 shares in the company, valued at approximately $734,642.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George M. Lynch sold 1,640 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total value of $93,480.00. Following the completion of the sale, the director now owns 12,383 shares of the company’s stock, valued at approximately $705,831. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

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About Forward Air Corporation

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Earnings History and Estimates for Forward Air Corporation (NASDAQ:FWRD)

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