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.
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