Forward Air Corp. (FWRD) to Release Earnings on Thursday
Forward Air Corp. (NASDAQ:FWRD) will be posting its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect Forward Air Corp. to post earnings of $0.58 per share and revenue of $250.36 million for the quarter. Forward Air Corp. has set its Q3 guidance at $0.61-0.65 EPS.
Forward Air Corp. (NASDAQ:FWRD) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by $0.01. The firm had revenue of $238.60 million for the quarter, compared to the consensus estimate of $247.86 million. Forward Air Corp. had a net margin of 4.32% and a return on equity of 14.41%. On average, analysts expect Forward Air Corp. to post $2.12 EPS for the current fiscal year and $2.48 EPS for the next fiscal year.
Forward Air Corp. (NASDAQ:FWRD) opened at 42.27 on Tuesday. The company’s 50-day moving average is $44.34 and its 200 day moving average is $45.08. Forward Air Corp. has a one year low of $36.00 and a one year high of $50.47. The company has a market capitalization of $1.28 billion, a P/E ratio of 31.10 and a beta of 1.30.
FWRD has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Forward Air Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 24th. BB&T Corp. lowered shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. TheStreet lowered shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Finally, Cowen and Company dropped their target price on shares of Forward Air Corp. from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.00.
In other news, insider Matthew J. Jewell sold 600 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $46.44, for a total value of $27,864.00. Following the transaction, the insider now directly owns 34,910 shares of the company’s stock, valued at $1,621,220.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michael P. Mclean sold 14,779 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $46.01, for a total transaction of $679,981.79. Following the completion of the transaction, the chief accounting officer now directly owns 32,228 shares in the company, valued at $1,482,810.28. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of FWRD. BlackRock Inc. increased its position in Forward Air Corp. by 13.7% in the second quarter. BlackRock Inc. now owns 2,482 shares of the company’s stock valued at $111,000 after buying an additional 300 shares in the last quarter. Advisor Group Inc. acquired a new position in Forward Air Corp. during the second quarter valued at $156,000. Pacad Investment Ltd. acquired a new position in Forward Air Corp. during the second quarter valued at $209,000. Jefferies Group LLC acquired a new position in Forward Air Corp. during the second quarter valued at $262,000. Finally, Paloma Partners Management Co acquired a new position in Forward Air Corp. during the second quarter valued at $323,000. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
Forward Air Corp. Company Profile
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.
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