Equities analysts expect that Forward Air Co. (NASDAQ:FWRD) will post sales of $355.68 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Forward Air’s earnings. The lowest sales estimate is $351.80 million and the highest is $357.40 million. Forward Air reported sales of $331.38 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The firm is expected to announce its next earnings results after the market closes on Thursday, October 24th.
According to Zacks, analysts expect that Forward Air will report full-year sales of $1.40 billion for the current year, with estimates ranging from $1.40 billion to $1.41 billion. For the next fiscal year, analysts expect that the business will report sales of $1.49 billion, with estimates ranging from $1.46 billion to $1.52 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Forward Air.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.04). Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The company had revenue of $345.76 million for the quarter, compared to analyst estimates of $348.07 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.
NASDAQ:FWRD traded up $0.27 during midday trading on Tuesday, reaching $62.00. 92,149 shares of the company traded hands, compared to its average volume of 156,163. Forward Air has a twelve month low of $51.54 and a twelve month high of $70.45. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 19.87 and a beta of 1.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 1.41. The company has a fifty day moving average price of $62.04 and a 200 day moving average price of $61.53.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.
In other Forward Air news, insider Glenn A. Adelaar sold 4,917 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $61.05, for a total transaction of $300,182.85. Following the completion of the transaction, the insider now owns 41,177 shares in the company, valued at approximately $2,513,855.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in Forward Air by 123.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 21,754 shares of the transportation company’s stock worth $1,386,000 after acquiring an additional 11,999 shares during the period. BlackRock Inc. boosted its position in Forward Air by 0.4% during the 2nd quarter. BlackRock Inc. now owns 4,208,609 shares of the transportation company’s stock worth $248,939,000 after acquiring an additional 16,895 shares during the period. Verition Fund Management LLC acquired a new position in Forward Air during the 2nd quarter worth $367,000. United Services Automobile Association boosted its position in Forward Air by 2.8% during the 2nd quarter. United Services Automobile Association now owns 168,798 shares of the transportation company’s stock worth $9,984,000 after acquiring an additional 4,570 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in Forward Air during the 2nd quarter worth $22,041,000. Institutional investors own 94.70% of the company’s stock.
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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