Forward Air (NASDAQ:FWRD) Releases Quarterly Earnings Results, Misses Estimates By $0.49 EPS

Forward Air (NASDAQ:FWRD) announced its earnings results on Wednesday. The transportation company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.49), Zacks reports. The company had revenue of $541.81 million for the quarter, compared to analysts’ expectations of $644.00 million. Forward Air had a net margin of 10.58% and a return on equity of 15.30%. During the same period in the previous year, the firm earned $1.37 EPS.

Forward Air Stock Performance

Shares of FWRD traded down $1.65 during mid-day trading on Friday, hitting $15.11. The stock had a trading volume of 1,318,670 shares, compared to its average volume of 954,510. The firm has a market cap of $398.45 million, a P/E ratio of 2.42 and a beta of 1.06. The business has a fifty day moving average price of $26.51 and a 200-day moving average price of $46.71. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.46 and a quick ratio of 1.46. Forward Air has a 52 week low of $12.85 and a 52 week high of $121.38.

Analysts Set New Price Targets

FWRD has been the topic of several analyst reports. StockNews.com cut Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Wednesday, April 24th. Stifel Nicolaus cut their price objective on Forward Air from $80.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Finally, Robert W. Baird cut their price objective on Forward Air from $24.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.43.

About Forward Air

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.