Brokerages predict that Forward Air Co. (NASDAQ:FWRD) will post earnings of $0.62 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Forward Air’s earnings. The highest EPS estimate is $0.63 and the lowest is $0.60. Forward Air posted earnings of $0.58 per share in the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, February 7th.
On average, analysts expect that Forward Air will report full year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.36. For the next financial year, analysts expect that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $2.55 to $3.16. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Forward Air.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.58. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. The company had revenue of $280.20 million during the quarter, compared to analyst estimates of $278.75 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis.
Shares of Forward Air (FWRD) traded up $2.00 during mid-day trading on Wednesday, reaching $62.90. The company’s stock had a trading volume of 312,328 shares, compared to its average volume of 170,300. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air has a one year low of $45.86 and a one year high of $63.94. The firm has a market cap of $1,813.13, a price-to-earnings ratio of 29.53 and a beta of 1.18.
In other news, insider Chris C. Ruble sold 23,020 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now owns 28,279 shares of the company’s stock, valued at approximately $1,633,112.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bruce A. Campbell sold 34,281 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.01, for a total value of $1,885,797.81. Following the completion of the sale, the chairman now directly owns 155,831 shares in the company, valued at approximately $8,572,263.31. The disclosure for this sale can be found here. Insiders sold a total of 93,549 shares of company stock worth $5,250,836 in the last three months. Company insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in shares of Forward Air by 12.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 194,166 shares of the transportation company’s stock worth $10,346,000 after purchasing an additional 21,326 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Forward Air during the second quarter worth $158,000. Prudential Financial Inc. raised its position in shares of Forward Air by 1.4% during the second quarter. Prudential Financial Inc. now owns 53,217 shares of the transportation company’s stock worth $2,835,000 after purchasing an additional 720 shares during the period. Alliancebernstein L.P. raised its position in shares of Forward Air by 93.2% during the second quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock worth $4,588,000 after purchasing an additional 41,540 shares during the period. Finally, Riverhead Capital Management LLC raised its position in shares of Forward Air by 72.5% during the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock worth $101,000 after purchasing an additional 797 shares during the period. 95.71% of the stock is currently owned by institutional investors.
About Forward Air
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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