Forward Air Corporation (FWRD) Scheduled to Post Earnings on Wednesday
Forward Air Corporation (NASDAQ:FWRD) will post its quarterly earnings results after the market closes on Wednesday, October 25th. Analysts expect Forward Air Corporation to post earnings of $0.60 per share for the quarter. Forward Air Corporation has set its Q3 guidance at $0.56-0.60 EPS.
Forward Air Corporation (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect Forward Air Corporation to post $2.35 EPS for the current fiscal year and $2.63 EPS for the next fiscal year.
Forward Air Corporation (NASDAQ FWRD) opened at 57.85 on Wednesday. The stock has a market capitalization of $1.75 billion, a PE ratio of 30.26 and a beta of 1.12. The stock has a 50 day moving average price of $55.14 and a 200-day moving average price of $52.36. Forward Air Corporation has a 12-month low of $40.07 and a 12-month high of $59.71.
In other Forward Air Corporation news, CAO Michael P. Mclean sold 2,495 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $52.00, for a total transaction of $129,740.00. Following the sale, the chief accounting officer now directly owns 20,880 shares of the company’s stock, valued at $1,085,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael P. Mclean sold 15,718 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.05, for a total value of $802,403.90. Following the sale, the chief accounting officer now directly owns 20,559 shares in the company, valued at $1,049,536.95. The disclosure for this sale can be found here. Insiders have sold 23,197 shares of company stock worth $1,205,367 over the last three months. 2.40% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on FWRD. Cowen and Company reaffirmed a “hold” rating and issued a $51.00 target price on shares of Forward Air Corporation in a report on Thursday, August 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $60.00 target price on shares of Forward Air Corporation in a report on Friday, October 6th. Zacks Investment Research cut Forward Air Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut Forward Air Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. 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 analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Forward Air Corporation currently has a consensus rating of “Hold” and an average target price of $52.67.
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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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