Analysts expect Forward Air Co. (NASDAQ:FWRD) to post $323.13 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Forward Air’s earnings, with estimates ranging from $314.90 million to $328.00 million. Forward Air reported sales of $302.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.8%. The business is scheduled to report its next earnings results on Wednesday, April 24th.
On average, analysts expect that Forward Air will report full year sales of $1.42 billion for the current financial year, with estimates ranging from $1.39 billion to $1.44 billion. For the next financial year, analysts expect that the firm will report sales of $1.50 billion, with estimates ranging from $1.45 billion to $1.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Forward Air.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, February 7th. The transportation company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.83 by $0.12. The firm had revenue of $356.60 million for the quarter, compared to analyst estimates of $347.16 million. Forward Air had a return on equity of 16.97% and a net margin of 6.97%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share.
In other Forward Air news, COO Chris C. Ruble sold 2,000 shares of Forward Air stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $68.10, for a total value of $136,200.00. Following the transaction, the chief operating officer now owns 26,363 shares in the company, valued at $1,795,320.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Chris C. Ruble sold 7,926 shares of Forward Air stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $65.12, for a total value of $516,141.12. Following the completion of the transaction, the chief operating officer now owns 31,489 shares in the company, valued at approximately $2,050,563.68. The disclosure for this sale can be found here. Insiders sold 43,087 shares of company stock worth $2,842,670 in the last quarter. 1.95% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Forward Air by 0.7% in the 4th quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock worth $231,857,000 after acquiring an additional 28,208 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Forward Air by 2.1% in the third quarter. Vanguard Group Inc. now owns 2,917,550 shares of the transportation company’s stock valued at $209,189,000 after purchasing an additional 59,982 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Forward Air by 2.1% in the third quarter. Vanguard Group Inc now owns 2,917,550 shares of the transportation company’s stock valued at $209,189,000 after purchasing an additional 59,982 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Forward Air by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,296,860 shares of the transportation company’s stock valued at $71,133,000 after purchasing an additional 7,101 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Forward Air in the fourth quarter valued at $26,713,000. Institutional investors own 94.88% of the company’s stock.
Shares of Forward Air stock traded up $0.18 during trading on Friday, hitting $64.34. 152,949 shares of the stock traded hands, compared to its average volume of 143,637. The firm has a market cap of $1.81 billion, a P/E ratio of 20.62 and a beta of 1.63. The company has a current ratio of 2.69, a quick ratio of 2.66 and a debt-to-equity ratio of 0.09. Forward Air has a 52-week low of $51.00 and a 52-week high of $72.81.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 6th. This represents a $0.72 annualized dividend and a yield of 1.12%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.
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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