Forward Air (FWRD) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Forward Air (NASDAQ:FWRD) posted its quarterly earnings results on Wednesday. The transportation company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03, Briefing.com reports. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. The firm had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $301.47 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. Forward Air updated its Q1 guidance to 0.55-0.59 EPS.

Shares of Forward Air (NASDAQ FWRD) traded down $2.66 on Thursday, reaching $56.70. The company’s stock had a trading volume of 115,222 shares, compared to its average volume of 215,140. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71. The stock has a market capitalization of $1,731.85, a PE ratio of 27.87 and a beta of 1.17. Forward Air has a fifty-two week low of $45.86 and a fifty-two week high of $64.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Thursday, March 8th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.06%. Forward Air’s payout ratio is 28.17%.

Several research analysts have recently weighed in on the company. Robert W. Baird upgraded Forward Air from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. BidaskClub upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Zacks Investment Research upgraded Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, January 9th. Stephens reiterated a “buy” rating and set a $80.00 price objective on shares of Forward Air in a research report on Wednesday, January 10th. Finally, Cowen reiterated a “market perform” rating and set a $54.00 price objective (up previously from $51.00) on shares of Forward Air in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Forward Air has a consensus rating of “Hold” and an average target price of $62.60.

In other news, insider Chris C. Ruble sold 23,020 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 28,279 shares of the company’s stock, valued at $1,633,112.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bruce A. Campbell sold 5,264 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $55.43, for a total value of $291,783.52. Following the completion of the transaction, the chairman now directly owns 153,454 shares of the company’s stock, valued at approximately $8,505,955.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,909 shares of company stock valued at $5,157,356. Company insiders own 2.40% of the company’s stock.

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Forward Air 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.

Earnings History for Forward Air (NASDAQ:FWRD)

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