Brokerages forecast that Forward Air Co. (NASDAQ:FWRD) will report $0.79 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Forward Air’s earnings, with the lowest EPS estimate coming in at $0.77 and the highest estimate coming in at $0.84. Forward Air posted earnings per share of $0.76 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 23rd.
According to Zacks, analysts expect that Forward Air will report full year earnings of $3.11 per share for the current fiscal year, with EPS estimates ranging from $3.08 to $3.17. For the next year, analysts expect that the business will report earnings of $3.62 per share, with EPS estimates ranging from $3.45 to $3.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Forward Air.
Forward Air (NASDAQ:FWRD) last released its earnings results on Thursday, July 25th. The transportation company reported $0.78 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $345.76 million for the quarter, compared to the consensus estimate of $348.07 million. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis.
FWRD has been the subject of several analyst reports. BidaskClub raised shares of Forward Air from a “hold” rating to a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank raised their price objective on shares of Forward Air from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $70.00.
FWRD traded up $1.09 on Wednesday, hitting $61.69. The company’s stock had a trading volume of 1,433 shares, compared to its average volume of 173,048. The company’s 50 day simple moving average is $60.35 and its 200-day simple moving average is $61.80. The firm has a market cap of $1.68 billion, a P/E ratio of 19.75 and a beta of 1.54. Forward Air has a 12 month low of $51.54 and a 12 month high of $72.81. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 22nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, August 21st. Forward Air’s payout ratio is presently 23.08%.
Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Forward Air in the 2nd quarter worth $30,000. Pathstone Family Office LLC purchased a new position in Forward Air in the 2nd quarter worth $31,000. Advisory Services Network LLC raised its position in Forward Air by 70.8% in the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock worth $41,000 after purchasing an additional 283 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Forward Air in the 2nd quarter worth $47,000. Finally, Tower Research Capital LLC TRC raised its position in Forward Air by 3,740.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,197 shares during the period. Institutional investors own 92.55% 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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