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).
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