Forward Air (NASDAQ:FWRD) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS
Forward Air (NASDAQ:FWRD) released its quarterly earnings data on Thursday. The transportation company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04), Briefing.com reports. The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $348.07 million. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Forward Air updated its Q3 2019 guidance to $0.74-0.78 EPS and its Q3 guidance to $0.77-0.81 EPS.
NASDAQ:FWRD traded up $2.27 on Friday, reaching $63.53. 295,952 shares of the stock traded hands, compared to its average volume of 144,168. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 20.36 and a beta of 1.55. The firm has a 50 day moving average of $59.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.73 and a quick ratio of 1.73. Forward Air has a 1-year low of $51.54 and a 1-year high of $72.81.
A number of analysts have weighed in on FWRD shares. Zacks Investment Research downgraded shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank increased their target price on shares of Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, BidaskClub downgraded shares of ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $70.00.
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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