Zacks: Brokerages Expect Forward Air Co. (FWRD) Will Post Quarterly Sales of $309.62 Million

Wall Street brokerages forecast that Forward Air Co. (NASDAQ:FWRD) will report $309.62 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Forward Air’s earnings, with the highest sales estimate coming in at $318.30 million and the lowest estimate coming in at $300.20 million. Forward Air reported sales of $267.52 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The company is expected to announce its next quarterly earnings results on Wednesday, July 25th.

On average, analysts expect that Forward Air will report full-year sales of $1.27 billion for the current fiscal year, with estimates ranging from $1.23 billion to $1.31 billion. For the next year, analysts expect that the business will post sales of $1.33 billion per share, with estimates ranging from $1.27 billion to $1.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Forward Air.

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

A number of brokerages have commented on FWRD. BidaskClub raised shares of Forward Air from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th. Zacks Investment Research raised shares of Forward Air from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Stifel Nicolaus raised shares of Forward Air from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $64.00 in a report on Thursday, April 26th. Stephens set a $74.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Robert W. Baird raised shares of Forward Air from a “neutral” rating to an “outperform” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four 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 a consensus target price of $63.80.

Shares of NASDAQ:FWRD opened at $58.39 on Friday. Forward Air has a 12 month low of $56.47 and a 12 month high of $57.49. 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 stock has a market cap of $1.68 billion, a price-to-earnings ratio of 24.74 and a beta of 1.26.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, May 24th. Forward Air’s dividend payout ratio (DPR) is presently 25.42%.

In other news, Director George M. Lynch sold 2,443 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $55.47, for a total value of $135,513.21. Following the transaction, the director now owns 9,940 shares of the company’s stock, valued at approximately $551,371.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.95% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its stake in shares of Forward Air by 2.1% in the 1st quarter. Swiss National Bank now owns 52,700 shares of the transportation company’s stock valued at $2,786,000 after purchasing an additional 1,100 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Forward Air by 36.3% in the 4th quarter. Meeder Asset Management Inc. now owns 4,613 shares of the transportation company’s stock valued at $265,000 after purchasing an additional 1,228 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Forward Air by 11.9% in the 1st quarter. SG Americas Securities LLC now owns 11,537 shares of the transportation company’s stock valued at $610,000 after purchasing an additional 1,231 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Forward Air by 27.9% in the 1st quarter. Profund Advisors LLC now owns 5,948 shares of the transportation company’s stock valued at $314,000 after purchasing an additional 1,296 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Forward Air by 25.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,696 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 1,343 shares during the last quarter. 97.77% of the stock is currently owned by 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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