$0.62 Earnings Per Share Expected for Forward Air Co. (FWRD) This Quarter
Brokerages predict that Forward Air Co. (NASDAQ:FWRD) will report earnings of $0.62 per share for the current quarter, according to Zacks. Five analysts have made estimates for Forward Air’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.60. Forward Air posted earnings of $0.58 per share during the same quarter last year, which would suggest a positive year over year growth rate of 6.9%. The firm is expected to announce its next earnings results after the market closes on Wednesday, February 7th.
According to Zacks, analysts expect that Forward Air will report full-year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.36. For the next fiscal year, analysts expect that the business will report earnings of $2.73 per share, with EPS estimates ranging from $2.49 to $3.16. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Forward Air.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The firm had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $278.75 million. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS.
In other news, Chairman Bruce A. Campbell sold 34,281 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.01, for a total transaction of $1,885,797.81. Following the transaction, the chairman now directly owns 155,831 shares of the company’s stock, valued at $8,572,263.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George M. Lynch sold 1,640 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $57.00, for a total transaction of $93,480.00. Following the transaction, the director now directly owns 12,383 shares in the company, valued at $705,831. The disclosure for this sale can be found here. Insiders have sold 93,549 shares of company stock worth $5,250,836 over the last ninety days. Insiders own 2.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FWRD. Schwab Charles Investment Management Inc. increased its holdings in shares of Forward Air by 12.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 194,166 shares of the transportation company’s stock worth $10,346,000 after purchasing an additional 21,326 shares during the period. SG Americas Securities LLC bought a new position in shares of Forward Air during the second quarter worth approximately $158,000. Prudential Financial Inc. increased its holdings in shares of Forward Air by 1.4% during the second quarter. Prudential Financial Inc. now owns 53,217 shares of the transportation company’s stock worth $2,835,000 after purchasing an additional 720 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Forward Air by 93.2% during the second quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock worth $4,588,000 after purchasing an additional 41,540 shares during the period. Finally, Riverhead Capital Management LLC increased its holdings in shares of Forward Air by 72.5% during the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock worth $101,000 after purchasing an additional 797 shares during the period. 95.71% of the stock is currently owned by institutional investors.
Forward Air (FWRD) opened at $59.89 on Wednesday. The firm has a market cap of $1,801.82, a PE ratio of 28.12 and a beta of 1.18. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air has a fifty-two week low of $45.86 and a fifty-two week high of $60.93.
TRADEMARK VIOLATION NOTICE: “$0.62 Earnings Per Share Expected for Forward Air Co. (FWRD) This Quarter” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/17/0-62-earnings-per-share-expected-for-forward-air-co-fwrd-this-quarter.html.
About Forward Air
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.