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.
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