Wall Street analysts forecast that Forward Air Co. (NASDAQ:FWRD) will announce $0.75 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Forward Air’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.74. Forward Air reported earnings of $0.64 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, July 25th.

On average, analysts expect that Forward Air will report full year earnings of $3.02 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.10. For the next fiscal year, analysts anticipate that the company will report earnings of $3.38 per share, with EPS estimates ranging from $3.28 to $3.59. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Forward Air.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Forward Air had a return on equity of 14.41% and a net margin of 7.85%. The company had revenue of $302.60 million during the quarter, compared to analysts’ expectations of $291.73 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year.

Several brokerages recently weighed in on FWRD. Stifel Nicolaus raised Forward Air from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $64.00 in a research note on Thursday, April 26th. BidaskClub cut Forward Air from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 27th. Stephens set a $74.00 target price on Forward Air and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Zacks Investment Research cut Forward Air from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Forward Air currently has a consensus rating of “Hold” and an average target price of $63.80.

In related news, insider Chris C. Ruble sold 7,969 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $60.50, for a total transaction of $482,124.50. Following the completion of the transaction, the insider now owns 24,756 shares of the company’s stock, valued at $1,497,738. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew J. Jewell sold 2,328 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $60.00, for a total value of $139,680.00. Following the transaction, the insider now directly owns 40,265 shares of the company’s stock, valued at approximately $2,415,900. The disclosure for this sale can be found here. Insiders have sold 16,529 shares of company stock valued at $995,974 in the last ninety days. Company insiders own 1.95% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in shares of Forward Air by 1,075.0% during the first quarter. Sei Investments Co. now owns 2,256 shares of the transportation company’s stock valued at $119,000 after purchasing an additional 2,064 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Forward Air by 138.7% during the fourth quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 1,526 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Forward Air by 281.0% during the first quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 2,209 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Forward Air during the first quarter valued at $166,000. Finally, Sawgrass Asset Management LLC purchased a new stake in shares of Forward Air during the fourth quarter valued at $215,000. 95.93% of the stock is owned by institutional investors and hedge funds.

Shares of Forward Air traded up $0.48, hitting $60.41, on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 136,620 shares, compared to its average volume of 170,313. Forward Air has a 12 month low of $49.88 and a 12 month high of $64.80. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 25.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.56 and a current ratio of 2.56.

The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 25th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.60 annualized dividend and a yield of 0.99%. Forward Air’s dividend payout ratio is currently 25.42%.

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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Earnings History and Estimates for Forward Air (NASDAQ:FWRD)

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