Zacks: Analysts Anticipate Forward Air Co. (FWRD) to Post $0.75 EPS

Wall Street brokerages predict that Forward Air Co. (NASDAQ:FWRD) will announce earnings of $0.75 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Forward Air’s earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.78. Forward Air posted earnings per share of $0.64 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.2%. The company is expected to report its next earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that Forward Air will report full-year earnings of $3.02 per share for the current year, with EPS estimates ranging from $2.95 to $3.10. For the next financial year, analysts anticipate that the firm will post earnings of $3.38 per share, with EPS estimates ranging from $3.28 to $3.59. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Forward Air.

Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, April 25th. The transportation company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company had revenue of $302.60 million during the quarter, compared to the consensus estimate of $291.73 million. Forward Air had a net margin of 7.85% and a return on equity of 14.41%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS.

Several equities research analysts have recently weighed in on FWRD shares. Stifel Nicolaus raised shares of Forward Air from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $64.00 in a research report on Thursday, April 26th. BidaskClub lowered shares of Forward Air from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 27th. Stephens set a $74.00 price target on shares of Forward Air and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Zacks Investment Research lowered shares of Forward Air from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.80.

Shares of FWRD traded down $0.21 during midday trading on Friday, hitting $59.93. The company had a trading volume of 91,322 shares, compared to its average volume of 216,499. The company has a market capitalization of $1.76 billion, a P/E ratio of 25.37 and a beta of 1.27. Forward Air has a 52 week low of $49.88 and a 52 week high of $64.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.56 and a current ratio of 2.56.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, May 24th. Forward Air’s dividend payout ratio (DPR) is presently 25.42%.

In other Forward Air news, insider Matthew J. Jewell sold 2,328 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $60.00, for a total transaction of $139,680.00. Following the completion of the transaction, the insider now directly owns 40,265 shares of the company’s stock, valued at approximately $2,415,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew J. Jewell sold 6,232 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $60.04, for a total transaction of $374,169.28. Following the transaction, the insider now directly owns 44,169 shares of the company’s stock, valued at $2,651,906.76. The disclosure for this sale can be found here. Insiders own 1.95% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Forward Air by 1.4% during the 1st quarter. BlackRock Inc. now owns 3,758,348 shares of the transportation company’s stock valued at $198,667,000 after purchasing an additional 50,652 shares during the period. Dimensional Fund Advisors LP boosted its stake in Forward Air by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,268,502 shares of the transportation company’s stock valued at $67,053,000 after purchasing an additional 13,077 shares during the period. Goldman Sachs Group Inc. boosted its stake in Forward Air by 6.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 585,963 shares of the transportation company’s stock valued at $33,657,000 after purchasing an additional 36,029 shares during the period. River Road Asset Management LLC boosted its stake in Forward Air by 3.0% during the 4th quarter. River Road Asset Management LLC now owns 416,725 shares of the transportation company’s stock valued at $23,937,000 after purchasing an additional 11,980 shares during the period. Finally, Millennium Management LLC boosted its stake in Forward Air by 117.0% during the 1st quarter. Millennium Management LLC now owns 376,168 shares of the transportation company’s stock valued at $19,884,000 after purchasing an additional 202,820 shares during the period. 95.93% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Forward Air (NASDAQ:FWRD)

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