Brokerages Anticipate Forward Air Co. (FWRD) to Post $0.83 EPS
Brokerages expect Forward Air Co. (NASDAQ:FWRD) to report earnings of $0.83 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Forward Air’s earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.85. Forward Air posted earnings per share of $0.65 during the same quarter last year, which would indicate a positive year over year growth rate of 27.7%. The company is scheduled to report its next earnings report on Wednesday, February 6th.
On average, analysts expect that Forward Air will report full-year earnings of $3.02 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.04. For the next fiscal year, analysts expect that the company will report earnings of $3.43 per share, with EPS estimates ranging from $3.30 to $3.64. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Forward Air.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $331.38 million during the quarter, compared to analyst estimates of $327.81 million. Forward Air had a net margin of 7.85% and a return on equity of 15.63%.
In related news, Director George M. Lynch sold 1,965 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $60.52, for a total transaction of $118,921.80. Following the completion of the transaction, the director now owns 9,972 shares of the company’s stock, valued at $603,505.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bruce A. Campbell sold 8,790 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $64.53, for a total transaction of $567,218.70. Following the transaction, the chairman now directly owns 138,442 shares of the company’s stock, valued at approximately $8,933,662.26. The disclosure for this sale can be found here. Insiders have sold 27,905 shares of company stock valued at $1,801,632 in the last ninety days. 1.95% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of FWRD. Sun Life Financial INC acquired a new position in Forward Air during the second quarter worth approximately $142,000. Royal Bank of Canada increased its position in Forward Air by 281.0% during the first quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock worth $159,000 after purchasing an additional 2,209 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Forward Air during the third quarter worth approximately $205,000. Verition Fund Management LLC acquired a new position in Forward Air during the third quarter worth approximately $219,000. Finally, Paloma Partners Management Co acquired a new position in Forward Air during the third quarter worth approximately $271,000. 95.96% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:FWRD traded up $0.26 during trading on Monday, reaching $62.77. The stock had a trading volume of 107,300 shares, compared to its average volume of 193,608. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $1.83 billion, a PE ratio of 26.60 and a beta of 1.52. Forward Air has a fifty-two week low of $51.00 and a fifty-two week high of $72.81.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a dividend of $0.18 per share. This is a positive change from Forward Air’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.72 annualized dividend and a yield of 1.15%. Forward Air’s dividend payout ratio is 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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