Forward Air Co. (NASDAQ:FWRD) Expected to Post Quarterly Sales of $343.20 Million

Wall Street brokerages expect Forward Air Co. (NASDAQ:FWRD) to report $343.20 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Forward Air’s earnings, with the lowest sales estimate coming in at $340.80 million and the highest estimate coming in at $347.00 million. Forward Air posted sales of $342.51 million during the same quarter last year, which suggests a positive year over year growth rate of 0.2%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, April 29th.

On average, analysts expect that Forward Air will report full-year sales of $1.43 billion for the current year, with estimates ranging from $1.40 billion to $1.45 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.51 billion, with estimates ranging from $1.48 billion to $1.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Forward Air.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Wednesday, February 10th. The transportation company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.90). The firm had revenue of $350.34 million for the quarter, compared to analyst estimates of $417.75 million. Forward Air had a return on equity of 10.39% and a net margin of 3.91%.

Several research firms have recently issued reports on FWRD. Raymond James lifted their price target on Forward Air from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 16th. Wolfe Research raised shares of Forward Air from a “peer perform” rating to an “outperform” rating and set a $101.00 target price for the company in a research note on Tuesday, February 16th. Finally, Zacks Investment Research downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research note on Friday, March 5th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.20.

A number of institutional investors and hedge funds have recently bought and sold shares of FWRD. Inspire Advisors LLC purchased a new stake in shares of Forward Air during the 4th quarter worth about $27,000. Private Capital Group LLC grew its holdings in shares of Forward Air by 24.5% during the 4th quarter. Private Capital Group LLC now owns 787 shares of the transportation company’s stock worth $61,000 after purchasing an additional 155 shares during the period. Veriti Management LLC purchased a new stake in shares of Forward Air during the 4th quarter worth about $93,000. Nisa Investment Advisors LLC grew its holdings in shares of Forward Air by 27.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,575 shares of the transportation company’s stock worth $198,000 after purchasing an additional 550 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Forward Air during the 3rd quarter worth about $212,000. Institutional investors own 95.80% of the company’s stock.

Shares of NASDAQ:FWRD traded up $0.27 during midday trading on Friday, hitting $89.01. 57,182 shares of the stock were exchanged, compared to its average volume of 133,931. The stock has a market cap of $2.43 billion, a P/E ratio of 47.85 and a beta of 1.15. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.21. Forward Air has a twelve month low of $40.75 and a twelve month high of $93.53. The company has a 50 day moving average price of $88.73 and a 200-day moving average price of $76.72.

The company also recently announced a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Thursday, March 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, March 3rd. Forward Air’s payout ratio is 27.63%.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. The company operates through 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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