Forward Air (NASDAQ:FWRD) Issues Quarterly Earnings Results, Misses Estimates By $0.49 EPS

Forward Air (NASDAQ:FWRD) issued its quarterly earnings data on Wednesday. The transportation company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.49), Zacks reports. The business had revenue of $541.81 million during the quarter, compared to analysts’ expectations of $644.00 million. Forward Air had a return on equity of 15.30% and a net margin of 10.58%. During the same quarter in the previous year, the company posted $1.37 earnings per share.

Forward Air Stock Down 9.8 %

Shares of NASDAQ FWRD traded down $1.65 during mid-day trading on Friday, hitting $15.11. The company had a trading volume of 1,318,670 shares, compared to its average volume of 954,510. The company has a market capitalization of $398.45 million, a PE ratio of 2.42 and a beta of 1.06. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. Forward Air has a 1-year low of $12.85 and a 1-year high of $121.38. The business’s 50-day simple moving average is $26.51 and its 200 day simple moving average is $46.71.

Analysts Set New Price Targets

FWRD has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Forward Air from $24.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday. Stifel Nicolaus decreased their price target on Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. StockNews.com cut Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.43.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.