Wall Street analysts expect Forward Air Co. (NASDAQ:FWRD) to report earnings of $0.60 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Forward Air’s earnings. The lowest EPS estimate is $0.56 and the highest is $0.65. Forward Air reported earnings of $0.30 per share in the same quarter last year, which suggests a positive year over year growth rate of 100%. The business is expected to issue its next quarterly earnings report on Thursday, April 29th.
According to Zacks, analysts expect that Forward Air will report full-year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $3.05 to $3.15. For the next financial year, analysts forecast that the firm will report earnings of $3.60 per share, with EPS estimates ranging from $3.45 to $3.70. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Forward Air.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Wednesday, February 10th. The transportation company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.90). Forward Air had a return on equity of 10.39% and a net margin of 3.91%. The firm had revenue of $350.34 million for the quarter, compared to the consensus estimate of $417.75 million.
A number of brokerages recently weighed in on FWRD. Zacks Investment Research cut Forward Air from a “buy” rating to a “hold” rating in a report on Friday, March 5th. Raymond James raised their price objective on Forward Air from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, February 16th. Finally, Wolfe Research raised Forward Air from a “peer perform” rating to an “outperform” rating and set a $101.00 price objective on the stock in a report on Tuesday, February 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Forward Air presently has a consensus rating of “Buy” and an average target price of $81.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC bought a new stake in shares of Forward Air during the fourth quarter valued at approximately $27,000. Private Capital Group LLC raised its stake in Forward Air by 24.5% during the fourth quarter. Private Capital Group LLC now owns 787 shares of the transportation company’s stock valued at $61,000 after buying an additional 155 shares during the last quarter. Veriti Management LLC purchased a new position in Forward Air during the fourth quarter valued at $93,000. Nisa Investment Advisors LLC raised its stake in Forward Air by 27.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,575 shares of the transportation company’s stock valued at $198,000 after buying an additional 550 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Forward Air during the third quarter valued at $212,000. Institutional investors own 95.80% of the company’s stock.
Shares of NASDAQ:FWRD traded down $1.78 on Wednesday, hitting $87.17. The company’s stock had a trading volume of 77,045 shares, compared to its average volume of 137,475. The company has a 50-day simple moving average of $88.37 and a 200 day simple moving average of $75.56. Forward Air has a 1 year low of $40.75 and a 1 year high of $93.53. The company has a market capitalization of $2.40 billion, a PE ratio of 46.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.50 and a quick ratio of 1.50.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Thursday, March 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. Forward Air’s dividend payout ratio is currently 27.63%.
About Forward Air
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. The company operates through 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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.
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