Forward Air Co. (NASDAQ:FWRD) – Equities research analysts at Seaport Global Securities increased their Q1 2018 EPS estimates for Forward Air in a note issued to investors on Thursday. Seaport Global Securities analyst K. Sterling now anticipates that the transportation company will post earnings per share of $0.57 for the quarter, up from their previous estimate of $0.47. Seaport Global Securities also issued estimates for Forward Air’s Q2 2018 earnings at $0.75 EPS, Q3 2018 earnings at $0.75 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $2.89 EPS and FY2019 earnings at $3.27 EPS.
A number of other equities research analysts have also weighed in on FWRD. Stifel Nicolaus raised their price target on shares of Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Forward Air from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Cowen reissued a “market perform” rating and set a $54.00 price objective (up from $51.00) on shares of Forward Air in a report on Monday, October 30th. BidaskClub raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Stephens reissued a “buy” rating and set a $80.00 price objective on shares of Forward Air in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $61.40.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. 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 7.93% and a return on equity of 13.91%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Forward Air by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,848 shares of the transportation company’s stock valued at $3,029,000 after buying an additional 175 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Forward Air by 10.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,636 shares of the transportation company’s stock valued at $140,000 after buying an additional 246 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Forward Air by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,271 shares of the transportation company’s stock valued at $1,239,000 after buying an additional 270 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Forward Air by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 59,518 shares of the transportation company’s stock valued at $3,406,000 after buying an additional 1,118 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Forward Air by 36.3% in the 4th quarter. Meeder Asset Management Inc. now owns 4,613 shares of the transportation company’s stock valued at $265,000 after buying an additional 1,228 shares during the period. 95.88% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Bruce A. Campbell sold 5,264 shares of Forward Air stock in a transaction dated 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 transaction, the chairman now directly owns 153,454 shares of the company’s stock, valued at approximately $8,505,955.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bruce A. Campbell sold 500 shares of Forward Air stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $55.45, for a total transaction of $27,725.00. Following the completion of the transaction, the chief executive officer now directly owns 153,454 shares of the company’s stock, valued at $8,509,024.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,909 shares of company stock valued at $5,157,356. 2.40% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Thursday, March 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, March 7th. Forward Air’s dividend payout ratio is currently 20.76%.
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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.
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