Equities research analysts forecast that Forward Air Co. (NASDAQ:FWRD) will report earnings of $0.62 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Forward Air’s earnings, with estimates ranging from $0.59 to $0.64. Forward Air reported earnings of $0.60 per share in the same quarter last year, which suggests a positive year over year growth rate of 3.3%. The business is scheduled to announce its next earnings results on Wednesday, April 24th.
According to Zacks, analysts expect that Forward Air will report full year earnings of $3.41 per share for the current fiscal year, with EPS estimates ranging from $3.29 to $3.63. For the next financial year, analysts forecast that the business will report earnings of $3.89 per share, with EPS estimates ranging from $3.70 to $4.25. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Forward Air.
Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, February 7th. The transportation company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Forward Air had a net margin of 6.97% and a return on equity of 16.97%. The company had revenue of $356.60 million for the quarter, compared to analysts’ expectations of $347.16 million. During the same quarter last year, the business earned $0.65 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year.
Several research firms have recently issued reports on FWRD. BidaskClub upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd. ValuEngine upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.75.
In other news, Chairman Bruce A. Campbell sold 6,713 shares of Forward Air stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $67.10, for a total transaction of $450,442.30. Following the sale, the chairman now owns 120,088 shares in the company, valued at $8,057,904.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Bruce A. Campbell sold 18,208 shares of Forward Air stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $66.05, for a total transaction of $1,202,638.40. Following the sale, the chairman now owns 120,088 shares in the company, valued at approximately $7,931,812.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,087 shares of company stock worth $2,842,670. Company insiders own 1.95% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC bought a new stake in Forward Air in the fourth quarter worth $42,000. Bank of Montreal Can increased its position in Forward Air by 13.2% in the fourth quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock worth $98,000 after purchasing an additional 208 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Forward Air in the fourth quarter worth $99,000. Verition Fund Management LLC bought a new stake in Forward Air in the third quarter worth $219,000. Finally, Amalgamated Bank bought a new stake in Forward Air in the fourth quarter worth $252,000. Institutional investors own 95.48% of the company’s stock.
NASDAQ FWRD traded down $0.33 on Thursday, reaching $61.34. 146,781 shares of the stock were exchanged, compared to its average volume of 143,866. Forward Air has a one year low of $51.00 and a one year high of $72.81. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 19.67 and a beta of 1.55. The company has a current ratio of 2.69, a quick ratio of 2.66 and a debt-to-equity ratio of 0.09.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 6th. Forward Air’s payout ratio is currently 23.08%.
About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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