Brokerages expect Forward Air Co. (NASDAQ:FWRD) to post sales of $343.20 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Forward Air's earnings. The lowest sales estimate is $340.80 million and the highest is $347.00 million. Forward Air reported sales of $342.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.2%. The firm is scheduled to announce its next earnings results on Thursday, April 29th.
According to Zacks, 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 year, analysts expect that the company will post sales of $1.51 billion, with estimates ranging from $1.48 billion to $1.53 billion. Zacks' sales calculations are an average based on a survey of research firms that cover Forward Air.
Forward Air (NASDAQ:FWRD) last announced its earnings results on Wednesday, February 10th. The transportation company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%.
A number of research firms recently weighed in on FWRD. Zacks Investment Research cut Forward Air from a "buy" rating to a "hold" rating in a report on Friday, March 5th. Raymond James increased their target price on Forward Air from $80.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, February 16th. Finally, Wolfe Research raised Forward Air from a "peer perform" rating to an "outperform" rating and set a $101.00 price target for the company in a report on Tuesday, February 16th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Forward Air has a consensus rating of "Buy" and a consensus price target of $81.20.
NASDAQ:FWRD opened at $88.42 on Friday. The stock has a market capitalization of $2.43 billion, a P/E ratio of 47.54 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 1 year low of $40.75 and a 1 year high of $93.53. The firm has a 50 day moving average of $88.36 and a 200-day moving average of $75.71.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Thursday, March 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 0.95%. Forward Air's payout ratio is 27.63%.
Several hedge funds have recently added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new position in Forward Air in the first quarter valued at about $410,000. Confluence Investment Management LLC lifted its position in Forward Air by 3.6% during the 1st quarter. Confluence Investment Management LLC now owns 71,571 shares of the transportation company's stock valued at $6,356,000 after purchasing an additional 2,512 shares during the period. Norges Bank acquired a new position in Forward Air during the 4th quarter valued at about $27,968,000. Hsbc Holdings PLC bought a new position in shares of Forward Air in the 4th quarter valued at about $419,000. Finally, JPMorgan Chase & Co. grew its position in shares of Forward Air by 271.7% during the 4th quarter. JPMorgan Chase & Co. now owns 127,798 shares of the transportation company's stock worth $9,820,000 after buying an additional 93,414 shares during the period. Institutional investors own 95.80% of the company's stock.
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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