Forward Air (NASDAQ:FWRD) Issues Q2 2022 Earnings Guidance

Forward Air (NASDAQ:FWRDGet Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.63- for the period, compared to the consensus earnings per share estimate of $1.66. The company issued revenue guidance of -.

Shares of Forward Air stock opened at $91.35 on Friday. The firm has a market capitalization of $2.45 billion, a P/E ratio of 18.20 and a beta of 1.16. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $93.29 and its 200 day simple moving average is $100.52. Forward Air has a 12 month low of $80.56 and a 12 month high of $125.71.

Forward Air (NASDAQ:FWRDGet Rating) last issued its earnings results on Wednesday, April 27th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The business had revenue of $466.96 million during the quarter, compared to analyst estimates of $453.60 million. Forward Air had a return on equity of 24.69% and a net margin of 7.77%. During the same quarter in the previous year, the firm earned $0.60 EPS. Analysts predict that Forward Air will post 6.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Investors of record on Thursday, May 26th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, May 25th. Forward Air’s payout ratio is 19.12%.

FWRD has been the subject of a number of recent research reports. Stifel Nicolaus raised shares of Forward Air from a hold rating to a buy rating and boosted their price objective for the company from $122.00 to $136.00 in a research report on Thursday, April 28th. StockNews.com raised Forward Air from a hold rating to a buy rating in a research note on Monday, May 2nd. Susquehanna Bancshares reduced their target price on shares of Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Finally, Susquehanna lowered their price target on shares of Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $139.50.

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Forward Air in the first quarter valued at $45,000. Captrust Financial Advisors grew its stake in shares of Forward Air by 156.0% in the 1st quarter. Captrust Financial Advisors now owns 1,298 shares of the transportation company’s stock worth $127,000 after buying an additional 791 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Forward Air in the 1st quarter worth about $197,000. Quantbot Technologies LP purchased a new stake in shares of Forward Air during the 1st quarter valued at about $248,000. Finally, Graham Capital Management L.P. lifted its holdings in shares of Forward Air by 28.0% in the 1st quarter. Graham Capital Management L.P. now owns 3,506 shares of the transportation company’s stock valued at $342,000 after acquiring an additional 768 shares during the last quarter. 97.66% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Company Profile (Get Rating)

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

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