Forward Air Corporation (FWRD) to Issue Quarterly Dividend of $0.15 on September 8th

Forward Air Corporation (NASDAQ:FWRD) declared a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Friday, August 25th will be paid a dividend of 0.15 per share by the transportation company on Friday, September 8th. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, August 23rd.

Forward Air Corporation (NASDAQ:FWRD) opened at 50.73 on Friday. Forward Air Corporation has a 52 week low of $40.07 and a 52 week high of $56.52. The company’s 50-day moving average price is $52.55 and its 200 day moving average price is $50.53. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 26.53 and a beta of 1.06.

Forward Air Corporation (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The firm had revenue of $267.50 million during the quarter, compared to the consensus estimate of $256.98 million. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. On average, analysts predict that Forward Air Corporation will post $2.35 EPS for the current year.

In other news, Chairman Bruce A. Campbell sold 20,529 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $51.64, for a total transaction of $1,060,117.56. Following the transaction, the chairman now directly owns 203,235 shares of the company’s stock, valued at $10,495,055.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael P. Mclean sold 15,718 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.05, for a total transaction of $802,403.90. Following the transaction, the chief accounting officer now directly owns 20,559 shares in the company, valued at $1,049,536.95. The disclosure for this sale can be found here. Insiders have sold 54,831 shares of company stock worth $2,836,938 over the last ninety days. Insiders own 2.40% of the company’s stock.

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Several equities research analysts have issued reports on FWRD shares. Stifel Nicolaus raised their price objective on shares of Forward Air Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, May 16th. BidaskClub upgraded shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Finally, Cowen and Company restated a “hold” rating and set a $51.00 price objective on shares of Forward Air Corporation in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $51.25.

Forward Air Corporation Company Profile

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Dividend History for Forward Air Corporation (NASDAQ:FWRD)

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