Wall Street brokerages expect that Forward Air Corporation (NASDAQ:FWRD) will report $0.58 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Forward Air Corporation’s earnings, with estimates ranging from $0.57 to $0.59. Forward Air Corporation posted earnings of $0.51 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13.7%. The business is scheduled to announce its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Forward Air Corporation will report full year earnings of $2.36 per share for the current year, with EPS estimates ranging from $2.35 to $2.40. For the next financial year, analysts expect that the firm will post earnings of $2.64 per share, with EPS estimates ranging from $2.60 to $2.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Forward Air Corporation.
Forward Air Corporation (NASDAQ:FWRD) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The business had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $256.98 million. During the same period in the prior year, the company earned $0.57 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year.
A number of analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. BidaskClub downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.75.
In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $53.58, for a total value of $160,740.00. Following the sale, the director now directly owns 16,652 shares in the company, valued at approximately $892,214.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael P. Mclean sold 2,495 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $52.00, for a total transaction of $129,740.00. Following the completion of the sale, the chief accounting officer now owns 20,880 shares in the company, valued at $1,085,760. The disclosure for this sale can be found here. Insiders sold a total of 42,910 shares of company stock worth $2,226,412 over the last quarter. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FWRD. Wells Fargo & Company MN increased its stake in Forward Air Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 136,361 shares of the transportation company’s stock worth $6,487,000 after buying an additional 1,495 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Forward Air Corporation by 27.0% in the first quarter. Russell Investments Group Ltd. now owns 164,238 shares of the transportation company’s stock worth $7,812,000 after buying an additional 34,872 shares during the last quarter. Profit Investment Management LLC increased its stake in Forward Air Corporation by 10.9% in the first quarter. Profit Investment Management LLC now owns 57,013 shares of the transportation company’s stock worth $2,712,000 after buying an additional 5,618 shares during the last quarter. Cardinal Capital Management increased its stake in Forward Air Corporation by 1.3% in the first quarter. Cardinal Capital Management now owns 19,103 shares of the transportation company’s stock worth $909,000 after buying an additional 240 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in Forward Air Corporation during the first quarter worth approximately $238,000. Institutional investors and hedge funds own 99.04% of the company’s stock.
Shares of Forward Air Corporation (NASDAQ:FWRD) traded down 0.17% during midday trading on Friday, hitting $51.43. 67,465 shares of the stock were exchanged. Forward Air Corporation has a 12-month low of $40.07 and a 12-month high of $56.52. The company has a market cap of $1.56 billion, a PE ratio of 26.90 and a beta of 1.06. The firm has a 50-day moving average price of $53.17 and a 200-day moving average price of $50.39.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. Forward Air Corporation’s payout ratio is currently 31.25%.
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Forward Air Corporation 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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