Wall Street brokerages expect Forward Air Co. (NASDAQ:FWRD) to post $290.18 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Forward Air’s earnings, with the lowest sales estimate coming in at $280.40 million and the highest estimate coming in at $298.60 million. Forward Air reported sales of $246.98 million during the same quarter last year, which indicates a positive year over year growth rate of 17.5%. The firm is expected to report its next earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Forward Air will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.20 billion to $1.29 billion. For the next year, analysts expect that the company will post sales of $1.31 billion per share, with estimates ranging from $1.27 billion to $1.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Forward Air.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Forward Air had a return on equity of 13.91% and a net margin of 7.93%. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $301.47 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year.
Shares of NASDAQ FWRD traded down $0.21 during trading on Friday, reaching $54.30. 179,252 shares of the stock traded hands, compared to its average volume of 237,123. Forward Air has a 52-week low of $46.79 and a 52-week high of $64.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.68. The stock has a market capitalization of $1,565.86, a PE ratio of 23.01 and a beta of 1.25.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Thursday, March 8th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.10%. Forward Air’s dividend payout ratio (DPR) is 25.42%.
In related news, Director George M. Lynch sold 2,443 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $55.47, for a total transaction of $135,513.21. Following the sale, the director now owns 9,940 shares of the company’s stock, valued at approximately $551,371.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.95% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of FWRD. Advisor Group Inc. lifted its holdings in Forward Air by 138.7% during the 4th quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock worth $151,000 after purchasing an additional 1,526 shares in the last quarter. Sawgrass Asset Management LLC purchased a new stake in Forward Air during the 4th quarter worth about $215,000. Everence Capital Management Inc. purchased a new stake in Forward Air during the 4th quarter worth about $218,000. Verition Fund Management LLC bought a new position in Forward Air in the 4th quarter worth about $238,000. Finally, Xact Kapitalforvaltning AB bought a new position in Forward Air in the 4th quarter worth about $261,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.
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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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