Equities analysts expect Forward Air Co. (NASDAQ:FWRD) to report earnings per share of $0.75 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Forward Air’s earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.78. Forward Air posted earnings per share of $0.64 during the same quarter last year, which would indicate a positive year over year growth rate of 17.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, July 25th.
According to Zacks, analysts expect that Forward Air will report full-year earnings of $3.02 per share for the current year, with EPS estimates ranging from $2.95 to $3.10. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.38 per share, with EPS estimates ranging from $3.28 to $3.59. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Forward Air.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, April 25th. The transportation company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $302.60 million for the quarter, compared to analyst estimates of $291.73 million. Forward Air had a return on equity of 14.41% and a net margin of 7.85%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Forward Air from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised Forward Air from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 9th. ValuEngine downgraded Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Stifel Nicolaus upgraded Forward Air from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $64.00 in a research report on Thursday, April 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $63.80.
Forward Air stock opened at $59.89 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 25.38 and a beta of 1.27. Forward Air has a 52 week low of $49.88 and a 52 week high of $64.80.
The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, May 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. Forward Air’s payout ratio is currently 25.42%.
In other news, VP Michael L. Hance sold 4,669 shares of the business’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $60.66, for a total transaction of $283,221.54. Following the completion of the sale, the vice president now owns 31,120 shares in the company, valued at $1,887,739.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris C. Ruble sold 7,969 shares of the business’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $60.50, for a total value of $482,124.50. Following the sale, the insider now owns 24,756 shares of the company’s stock, valued at approximately $1,497,738. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,198 shares of company stock valued at $1,279,195. 1.95% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Forward Air by 1.4% in the first quarter. BlackRock Inc. now owns 3,758,348 shares of the transportation company’s stock valued at $198,667,000 after purchasing an additional 50,652 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Forward Air by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,268,502 shares of the transportation company’s stock valued at $67,053,000 after purchasing an additional 13,077 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Forward Air by 6.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 585,963 shares of the transportation company’s stock valued at $33,657,000 after purchasing an additional 36,029 shares during the last quarter. Millennium Management LLC increased its holdings in Forward Air by 117.0% in the first quarter. Millennium Management LLC now owns 376,168 shares of the transportation company’s stock valued at $19,884,000 after purchasing an additional 202,820 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Forward Air by 2.0% in the first quarter. Principal Financial Group Inc. now owns 247,272 shares of the transportation company’s stock valued at $13,070,000 after purchasing an additional 4,751 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.
Forward Air Company Profile
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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