Forward Air (FWRD) Announces Earnings Results

Forward Air (NASDAQ:FWRD) announced its quarterly earnings results on Wednesday. The transportation company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03, Briefing.com reports. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $301.47 million. Forward Air had a net margin of 6.10% and a return on equity of 13.76%. Forward Air’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 EPS. Forward Air updated its Q1 guidance to 0.55-0.59 EPS.

Shares of Forward Air (NASDAQ FWRD) opened at $60.01 on Thursday. Forward Air has a one year low of $45.86 and a one year high of $64.80. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1,731.85, a price-to-earnings ratio of 27.87 and a beta of 1.17.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 8th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. Forward Air’s payout ratio is 28.17%.

A number of brokerages have commented on FWRD. Stephens restated a “buy” rating and set a $80.00 price target on shares of Forward Air in a research note on Wednesday, January 10th. Robert W. Baird upgraded shares of Forward Air from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. BidaskClub upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Stifel Nicolaus boosted their price target on shares of Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $62.60.

In other news, Chairman Bruce A. Campbell sold 5,264 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $55.43, for a total value of $291,783.52. Following the completion of the sale, the chairman now owns 153,454 shares in the company, valued at approximately $8,505,955.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris C. Ruble sold 23,020 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the completion of the sale, the insider now owns 28,279 shares of the company’s stock, valued at approximately $1,633,112.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,909 shares of company stock valued at $5,157,356. Company insiders own 2.40% of the company’s stock.

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Forward Air 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.

Earnings History for Forward Air (NASDAQ:FWRD)

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