$279.46 Million in Sales Expected for Forward Air Corporation (NASDAQ:FWRD) This Quarter
Equities analysts forecast that Forward Air Corporation (NASDAQ:FWRD) will post sales of $279.46 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Forward Air Corporation’s earnings. The lowest sales estimate is $278.10 million and the highest is $281.00 million. Forward Air Corporation posted sales of $249.55 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The company is expected to announce its next quarterly earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Forward Air Corporation will report full year sales of $279.46 million for the current fiscal year, with estimates ranging from $1.09 billion to $1.10 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.18 billion per share, with estimates ranging from $1.16 billion to $1.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Forward Air Corporation.
Forward Air Corporation (NASDAQ:FWRD) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.06. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The business had revenue of $267.50 million for the quarter, compared to analysts’ expectations of $256.98 million. During the same period in the prior year, the business posted $0.57 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis.
A number of equities analysts have commented on FWRD shares. Zacks Investment Research cut Forward Air Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. BidaskClub raised Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Stifel Nicolaus lifted their price target on Forward Air Corporation from $14.50 to $15.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Finally, Wolfe Research cut Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Forward Air Corporation has an average rating of “Hold” and an average price target of $49.75.
Shares of Forward Air Corporation (NASDAQ:FWRD) opened at 51.59 on Monday. The company has a market capitalization of $1.56 billion, a PE ratio of 26.98 and a beta of 1.06. Forward Air Corporation has a one year low of $40.07 and a one year high of $56.52. The company has a 50-day moving average price of $53.17 and a 200 day moving average price of $50.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. Forward Air Corporation’s dividend payout ratio is currently 31.25%.
In other news, Chairman Bruce A. Campbell sold 20,529 shares of Forward Air Corporation stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $51.64, for a total value of $1,060,117.56. Following the sale, the chairman now directly owns 203,235 shares in the company, valued at approximately $10,495,055.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director C Robert Campbell sold 1,718 shares of Forward Air Corporation stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $52.99, for a total value of $91,036.82. Following the completion of the sale, the director now owns 19,652 shares in the company, valued at $1,041,359.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,910 shares of company stock worth $2,226,412. Corporate insiders own 2.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Huntington National Bank raised its stake in shares of Forward Air Corporation by 8.1% in the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Forward Air Corporation during the first quarter worth $114,000. US Bancorp DE raised its stake in shares of Forward Air Corporation by 22.6% in the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock worth $129,000 after buying an additional 445 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Forward Air Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock worth $118,000 after buying an additional 1,168 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Forward Air Corporation during the second quarter worth $158,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.
Forward Air Corporation Company Profile
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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