Forward Air Corp. (FWRD) Updates Q1 Earnings Guidance
Forward Air Corp. (NASDAQ:FWRD) issued an update on its first quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.36-0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.42, Analyst Ratings Network reports.
Forward Air Corp. (NASDAQ:FWRD) traded up 0.07% on Monday, hitting $42.86. 128,555 shares of the company’s stock traded hands. Forward Air Corp. has a one year low of $35.93 and a one year high of $46.66. The stock has a 50-day moving average of $43.83 and a 200-day moving average of $40.64. The company has a market cap of $1.312 billion and a price-to-earnings ratio of 23.70.
Forward Air Corp. (NASDAQ:FWRD) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.55 by $0.05. The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $183.45 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts expect that Forward Air Corp. will post $1.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.12%.
On a related note, analysts at Avondale Partners upgraded shares of Forward Air Corp. from a market perform rating to an outperform rating in a research note to investors on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $41.28.
Forward Air Corporation operates in two segments: Forward Air, Inc (NASDAQ:FWRD) and Forward Air Solutions, Inc (FASI).