Wall Street analysts expect Forward Air Co. (NASDAQ:FWRD) to report sales of $355.48 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Forward Air’s earnings. The highest sales estimate is $357.00 million and the lowest is $351.80 million. Forward Air reported sales of $331.38 million in the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The company is expected to issue its next earnings results on Wednesday, October 23rd.
On average, analysts expect that Forward Air will report full year sales of $1.40 billion for the current year, with estimates ranging from $1.40 billion to $1.41 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.49 billion, with estimates ranging from $1.46 billion to $1.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Forward Air.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The company had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $348.07 million. Forward Air had a return on equity of 17.18% and a net margin of 6.70%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS.
Several large investors have recently made changes to their positions in the business. Advisor Group Inc. boosted its position in shares of Forward Air by 5.0% during the second quarter. Advisor Group Inc. now owns 3,412 shares of the transportation company’s stock valued at $201,000 after buying an additional 164 shares during the period. Trexquant Investment LP raised its stake in shares of Forward Air by 5.1% during the second quarter. Trexquant Investment LP now owns 3,548 shares of the transportation company’s stock valued at $210,000 after acquiring an additional 172 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Forward Air by 2.0% during the first quarter. Mason Street Advisors LLC now owns 9,246 shares of the transportation company’s stock valued at $598,000 after acquiring an additional 177 shares in the last quarter. Quantamental Technologies LLC raised its stake in shares of Forward Air by 10.7% during the first quarter. Quantamental Technologies LLC now owns 1,991 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 193 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Forward Air by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,510 shares of the transportation company’s stock valued at $681,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.
FWRD traded up $1.06 on Friday, hitting $61.35. The company had a trading volume of 163,300 shares, compared to its average volume of 160,839. The company has a market cap of $1.72 billion, a PE ratio of 19.66 and a beta of 1.54. Forward Air has a 12-month low of $51.54 and a 12-month high of $72.81. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $60.52 and its 200 day simple moving average is $61.81.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.
About Forward Air
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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