$290.18 Million in Sales Expected for Forward Air Co. (FWRD) This Quarter

Analysts expect that Forward Air Co. (NASDAQ:FWRD) will post $290.18 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Forward Air’s earnings, with the highest sales estimate coming in at $298.60 million and the lowest estimate coming in at $280.40 million. Forward Air reported sales of $246.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Forward Air will report full year sales of $290.18 million for the current year, with estimates ranging from $1.20 billion to $1.29 billion. For the next year, analysts anticipate that the business will report sales of $1.31 billion per share, with estimates ranging from $1.27 billion to $1.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Forward Air.

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Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, February 7th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $301.47 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue was up 15.6% compared to the same quarter last year.

FWRD has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. BidaskClub downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Stephens reiterated a “buy” rating and issued a $80.00 price target on shares of Forward Air in a research report on Wednesday, January 10th. Finally, Robert W. Baird upgraded shares of Forward Air from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $61.40.

In related news, Director George M. Lynch sold 2,443 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $55.47, for a total value of $135,513.21. Following the sale, the director now directly owns 9,940 shares in the company, valued at approximately $551,371.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Forward Air by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,214,199 shares of the transportation company’s stock worth $69,488,000 after purchasing an additional 3,378 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Forward Air by 6.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 585,963 shares of the transportation company’s stock worth $33,657,000 after purchasing an additional 36,029 shares in the last quarter. River Road Asset Management LLC increased its stake in Forward Air by 3.0% during the 4th quarter. River Road Asset Management LLC now owns 416,725 shares of the transportation company’s stock worth $23,937,000 after purchasing an additional 11,980 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in Forward Air by 4.3% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 319,830 shares of the transportation company’s stock worth $18,371,000 after purchasing an additional 13,183 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Forward Air by 7.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 250,802 shares of the transportation company’s stock worth $14,354,000 after purchasing an additional 17,340 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:FWRD traded down $0.72 during mid-day trading on Wednesday, reaching $52.14. The stock had a trading volume of 130,764 shares, compared to its average volume of 243,859. The company has a market capitalization of $1,563.84, a price-to-earnings ratio of 22.09 and a beta of 1.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.71 and a quick ratio of 2.68. Forward Air has a twelve month low of $46.35 and a twelve month high of $64.80.

The company also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Thursday, March 8th were given a $0.15 dividend. The ex-dividend date was Wednesday, March 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. Forward Air’s dividend payout ratio is 25.42%.

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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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