Forward Air Corp. (FWRD) Scheduled to Post Quarterly Earnings on Thursday
Forward Air Corp. (NASDAQ:FWRD) is set to release its Q316 earnings data on Thursday, October 20th. Analysts expect Forward Air Corp. to post earnings of $0.58 per share and revenue of $250.36 million for the quarter. Forward Air Corp. has set its Q3 guidance at $0.61-0.65 EPS.
Forward Air Corp. (NASDAQ:FWRD) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Forward Air Corp. had a net margin of 4.32% and a return on equity of 14.41%. The firm had revenue of $238.60 million for the quarter, compared to analyst estimates of $247.86 million. On average, analysts expect Forward Air Corp. to post $2.19 EPS for the current fiscal year and $2.59 EPS for the next fiscal year.
Shares of Forward Air Corp. (NASDAQ:FWRD) opened at 41.91 on Wednesday. Forward Air Corp. has a 12-month low of $36.00 and a 12-month high of $50.47. The company’s 50 day moving average price is $44.22 and its 200 day moving average price is $45.06. The firm has a market cap of $1.27 billion, a P/E ratio of 30.84 and a beta of 1.30.
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A number of equities research analysts have issued reports on FWRD shares. BB&T Corp. cut shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Zacks Investment Research raised shares of Forward Air Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 24th. TheStreet cut shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 22nd. Finally, Cowen and Company lowered their target price on shares of Forward Air Corp. from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Forward Air Corp. has a consensus rating of “Hold” and a consensus target price of $50.00.
In other news, insider Matthew J. Jewell sold 600 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $46.44, for a total value of $27,864.00. Following the transaction, the insider now owns 34,910 shares of the company’s stock, valued at $1,621,220.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Michael P. Mclean sold 14,779 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $46.01, for a total transaction of $679,981.79. Following the completion of the transaction, the chief accounting officer now directly owns 32,228 shares in the company, valued at approximately $1,482,810.28. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in Forward Air Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,773 shares of the company’s stock valued at $702,000 after buying an additional 200 shares during the last quarter. Paloma Partners Management Co purchased a new position in Forward Air Corp. during the second quarter valued at $323,000. Parametric Portfolio Associates LLC boosted its position in Forward Air Corp. by 1.6% in the second quarter. Parametric Portfolio Associates LLC now owns 102,880 shares of the company’s stock valued at $4,581,000 after buying an additional 1,612 shares during the last quarter. Menta Capital LLC purchased a new position in Forward Air Corp. during the second quarter valued at $625,000. Finally, Citadel Advisors LLC boosted its position in Forward Air Corp. by 87.8% in the second quarter. Citadel Advisors LLC now owns 17,900 shares of the company’s stock valued at $797,000 after buying an additional 8,367 shares during the last quarter. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
Forward Air Corp. Company Profile
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.
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