Wall Street analysts expect Forward Air Co. (NASDAQ:FWRD) to announce $0.75 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Forward Air’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.74. Forward Air reported earnings per share of $0.64 during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.2%. The company is expected to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that Forward Air will report full-year earnings of $3.01 per share for the current fiscal year, with EPS estimates ranging from $2.90 to $3.10. For the next financial year, analysts forecast that the business will post earnings of $3.38 per share, with EPS estimates ranging from $3.28 to $3.59. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Forward Air.
Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, April 25th. The transportation company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company had revenue of $302.60 million during the quarter, compared to the consensus estimate of $291.73 million. Forward Air had a net margin of 7.85% and a return on equity of 14.41%. The company’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 EPS.
FWRD has been the subject of several research analyst reports. Stifel Nicolaus raised shares of 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. BidaskClub downgraded shares of Forward Air from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 27th. Stephens set a $74.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Forward Air presently has an average rating of “Hold” and a consensus target price of $63.80.
In related news, Director George M. Lynch sold 2,443 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $55.47, for a total transaction of $135,513.21. Following the completion of 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 SEC, which is available through this link. 1.95% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in Forward Air by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 247,272 shares of the transportation company’s stock worth $13,070,000 after purchasing an additional 4,751 shares during the last quarter. Wesbanco Bank Inc. bought a new position in Forward Air in the 1st quarter worth about $1,019,000. CIBC World Markets Inc. bought a new position in Forward Air in the 1st quarter worth about $1,213,000. Xact Kapitalforvaltning AB grew its position in Forward Air by 22.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the transportation company’s stock worth $293,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Forward Air by 281.0% in the 1st quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock worth $159,000 after purchasing an additional 2,209 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
Shares of FWRD traded down $0.28 during midday trading on Wednesday, hitting $59.03. The company had a trading volume of 211,615 shares, compared to its average volume of 222,930. The company has a market capitalization of $1.77 billion, a P/E ratio of 25.01 and a beta of 1.26. Forward Air has a 52 week low of $49.81 and a 52 week high of $64.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.56 and a current ratio of 2.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, May 24th. Forward Air’s dividend payout ratio is presently 25.42%.
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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