Analysts Expect Forward Air Co. (NASDAQ:FWRD) Will Announce Earnings of $0.78 Per Share

Wall Street analysts expect that Forward Air Co. (NASDAQ:FWRD) will report earnings per share of $0.78 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Forward Air’s earnings. The highest EPS estimate is $0.80 and the lowest is $0.76. Forward Air posted earnings of $0.76 per share in the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The business is expected to issue its next earnings results after the market closes on Thursday, October 24th.

According to Zacks, analysts expect that Forward Air will report full-year earnings of $3.11 per share for the current financial year, with EPS estimates ranging from $3.07 to $3.17. For the next financial year, analysts forecast that the business will post earnings of $3.59 per share, with EPS estimates ranging from $3.45 to $3.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Forward Air.

Forward Air (NASDAQ:FWRD) last posted its earnings results on Thursday, July 25th. The transportation company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The firm had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $348.07 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.

Several analysts have commented on the company. BidaskClub downgraded Forward Air from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Zacks Investment Research downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Forward Air presently has an average rating of “Hold” and a consensus target price of $70.00.

FWRD traded up $0.10 on Monday, hitting $63.74. 107,049 shares of the company traded hands, compared to its average volume of 153,632. The company has a 50 day moving average of $62.87 and a 200-day moving average of $61.46. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $1.81 billion, a PE ratio of 20.43 and a beta of 1.54. Forward Air has a 12-month low of $51.54 and a 12-month high of $68.82.

In other Forward Air news, insider Glenn A. Adelaar sold 4,917 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $61.05, for a total transaction of $300,182.85. Following the transaction, the insider now owns 41,177 shares in the company, valued at approximately $2,513,855.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.04% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWRD. Point72 Asset Management L.P. acquired a new stake in shares of Forward Air in the 2nd quarter worth approximately $30,000. Pathstone Family Office LLC acquired a new stake in Forward Air during the 2nd quarter valued at $31,000. Advisory Services Network LLC grew its holdings in Forward Air by 70.8% during the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock valued at $41,000 after buying an additional 283 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Forward Air during the 2nd quarter valued at $47,000. Finally, Tower Research Capital LLC TRC grew its holdings in Forward Air by 3,740.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock valued at $73,000 after buying an additional 1,197 shares during the last quarter. Institutional investors own 95.06% 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).

See Also: What is Liquidity?

Get a free copy of the Zacks research report on Forward Air (FWRD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Forward Air (NASDAQ:FWRD)

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.