Analysts predict that Forward Air Co. (NASDAQ:FWRD) will report $290.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Forward Air’s earnings, with estimates ranging from $280.40 million to $298.60 million. Forward Air reported sales of $246.98 million in the same quarter last year, which indicates a positive year over year growth rate of 17.5%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Forward Air will report full-year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.20 billion to $1.29 billion. For the next year, analysts forecast that the company will post sales of $1.31 billion per share, with estimates ranging from $1.27 billion to $1.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Forward Air.
Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, February 7th. The transportation company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS.
In other Forward Air news, Director George M. Lynch sold 2,443 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $55.47, for a total value of $135,513.21. Following the sale, the director now owns 9,940 shares of the company’s stock, valued at approximately $551,371.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Confluence Investment Management LLC increased its holdings in Forward Air by 3.0% in the 4th quarter. Confluence Investment Management LLC now owns 79,894 shares of the transportation company’s stock valued at $4,589,000 after buying an additional 2,352 shares during the period. GSA Capital Partners LLP increased its holdings in Forward Air by 78.0% in the 3rd quarter. GSA Capital Partners LLP now owns 9,373 shares of the transportation company’s stock valued at $536,000 after buying an additional 4,106 shares during the period. Atlantic Trust Group LLC bought a new stake in shares of Forward Air in the 3rd quarter worth about $1,388,000. California Public Employees Retirement System grew its holdings in shares of Forward Air by 8.6% in the 4th quarter. California Public Employees Retirement System now owns 64,650 shares of the transportation company’s stock worth $3,713,000 after purchasing an additional 5,132 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in shares of Forward Air by 180.7% in the 4th quarter. Pinebridge Investments L.P. now owns 10,555 shares of the transportation company’s stock worth $606,000 after purchasing an additional 6,795 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:FWRD opened at $53.23 on Friday. The firm has a market cap of $1,579.98, a P/E ratio of 22.76 and a beta of 1.25. Forward Air has a one year low of $46.50 and a one year high of $64.80. The company has a quick ratio of 2.68, a current ratio of 2.71 and a debt-to-equity ratio of 0.08.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Thursday, March 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, March 7th. Forward Air’s dividend payout ratio (DPR) is presently 25.42%.
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About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-than-truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).
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