Wall Street analysts expect Forward Air Co. (NASDAQ:FWRD) to post $384.54 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Forward Air’s earnings. The lowest sales estimate is $380.00 million and the highest is $387.60 million. Forward Air reported sales of $356.56 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The company is expected to issue its next quarterly earnings report on Thursday, February 6th.
According to Zacks, analysts expect that Forward Air will report full-year sales of $1.41 billion for the current financial year, with estimates ranging from $1.40 billion to $1.42 billion. For the next financial year, analysts anticipate that the business will report sales of $1.49 billion, with estimates ranging from $1.46 billion to $1.52 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Forward Air.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Thursday, October 24th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $361.70 million for the quarter, compared to analyst estimates of $354.91 million. Forward Air had a net margin of 6.54% and a return on equity of 17.06%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of FWRD. Envestnet Asset Management Inc. grew its holdings in shares of Forward Air by 3.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,225 shares of the transportation company’s stock valued at $2,438,000 after purchasing an additional 1,233 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Forward Air by 0.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 244,579 shares of the transportation company’s stock worth $14,467,000 after buying an additional 1,579 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Forward Air during the second quarter worth $367,000. Sun Life Financial INC increased its holdings in shares of Forward Air by 25.7% during the second quarter. Sun Life Financial INC now owns 4,108 shares of the transportation company’s stock worth $243,000 after buying an additional 841 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Forward Air during the third quarter worth $317,000. Institutional investors own 95.75% of the company’s stock.
NASDAQ FWRD opened at $69.41 on Friday. The business has a fifty day moving average price of $69.00 and a two-hundred day moving average price of $62.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.54 and a quick ratio of 1.54. Forward Air has a fifty-two week low of $51.54 and a fifty-two week high of $72.09. The stock has a market capitalization of $1.96 billion, a PE ratio of 22.25 and a beta of 1.54.
The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a $0.18 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.04%. Forward Air’s dividend payout ratio (DPR) is currently 23.08%.
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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