Forward Air Corporation (NASDAQ:FWRD) – Investment analysts at KeyCorp cut their Q4 2017 earnings estimates for shares of Forward Air Corporation in a research report issued on Thursday. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.65. KeyCorp has a “Hold” rating on the stock.

Forward Air Corporation (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Forward Air Corporation had a net margin of 6.10% and a return on equity of 13.76%. The business had revenue of $280.20 million during the quarter, compared to the consensus estimate of $278.75 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year.

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A number of other brokerages have also recently issued reports on FWRD. Robert W. Baird reiterated a “hold” rating and set a $60.00 target price on shares of Forward Air Corporation in a research report on Friday, October 6th. Stifel Nicolaus increased their target price on shares of Forward Air Corporation from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday. Zacks Investment Research cut shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Wolfe Research cut shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $54.33.

Shares of Forward Air Corporation (NASDAQ FWRD) opened at 58.16 on Monday. Forward Air Corporation has a 12 month low of $40.17 and a 12 month high of $59.97. The company has a market cap of $1.76 billion, a P/E ratio of 30.42 and a beta of 1.12. The company’s 50 day moving average is $56.67 and its 200-day moving average is $53.06.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, November 21st. Forward Air Corporation’s payout ratio is presently 28.17%.

In other Forward Air Corporation news, CAO Michael P. Mclean sold 15,718 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.05, for a total value of $802,403.90. Following the completion of the sale, the chief accounting officer now owns 20,559 shares in the company, valued at approximately $1,049,536.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Mclean sold 4,984 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $54.82, for a total transaction of $273,222.88. Following the completion of the sale, the insider now owns 13,401 shares of the company’s stock, valued at approximately $734,642.82. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Forward Air Corporation by 157,904.2% in the 1st quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock valued at $180,917,000 after acquiring an additional 3,800,754 shares in the last quarter. US Bancorp DE increased its position in Forward Air Corporation by 22.6% in the 2nd quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 445 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Forward Air Corporation by 53.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,231 shares of the transportation company’s stock valued at $545,000 after acquiring an additional 3,557 shares in the last quarter. Vanguard Group Inc. increased its position in Forward Air Corporation by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 2,678,842 shares of the transportation company’s stock valued at $127,433,000 after acquiring an additional 114,244 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Forward Air Corporation by 53.9% in the 1st quarter. Renaissance Technologies LLC now owns 62,239 shares of the transportation company’s stock valued at $2,961,000 after acquiring an additional 21,800 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

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.

Earnings History and Estimates for Forward Air Corporation (NASDAQ:FWRD)

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