Forward Air Co. (FWRD) Expected to Post Earnings of $0.83 Per Share
Brokerages expect Forward Air Co. (NASDAQ:FWRD) to post $0.83 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Forward Air’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $0.84. Forward Air posted earnings per share of $0.82 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.2%. The business is expected to issue its next quarterly earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Forward Air will report full year earnings of $3.27 per share for the current financial year, with EPS estimates ranging from $3.16 to $3.46. For the next fiscal year, analysts expect that the business will post earnings of $3.73 per share, with EPS estimates ranging from $3.55 to $4.16. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Forward Air.
Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The firm had revenue of $321.47 million for the quarter, compared to analyst estimates of $324.22 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis.
Shares of Forward Air stock opened at $60.21 on Wednesday. Forward Air has a fifty-two week low of $51.54 and a fifty-two week high of $72.81. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.30 and a beta of 1.59.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.18 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.20%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.
In other Forward Air news, COO Chris C. Ruble sold 2,000 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $68.10, for a total transaction of $136,200.00. Following the sale, the chief operating officer now directly owns 26,363 shares in the company, valued at $1,795,320.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce A. Campbell sold 18,208 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $66.05, for a total value of $1,202,638.40. Following the sale, the chairman now owns 120,088 shares in the company, valued at $7,931,812.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,161 shares of company stock worth $2,326,529. Company insiders own 2.04% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FWRD. BlackRock Inc. increased its stake in Forward Air by 0.7% in the fourth quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock valued at $231,857,000 after purchasing an additional 28,208 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Forward Air by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,917,550 shares of the transportation company’s stock worth $209,189,000 after buying an additional 59,982 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Forward Air by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,301,207 shares of the transportation company’s stock worth $84,227,000 after buying an additional 4,347 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Forward Air by 15.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,201,653 shares of the transportation company’s stock worth $77,783,000 after buying an additional 157,120 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Forward Air by 0.6% during the 1st quarter. Royce & Associates LP now owns 935,779 shares of the transportation company’s stock worth $60,573,000 after purchasing an additional 5,698 shares during the period. Institutional investors own 98.05% of the company’s stock.
About Forward Air
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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