Forward Air Corporation (FWRD) Receiving Somewhat Positive Media Coverage, Study Finds
Media coverage about Forward Air Corporation (NASDAQ:FWRD) has trended somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Forward Air Corporation earned a news impact score of 0.20 on Accern’s scale. Accern also assigned press coverage about the transportation company an impact score of 46.260900915225 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
A number of research analysts have recently issued reports on FWRD shares. Zacks Investment Research upgraded shares of Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, May 31st. BidaskClub upgraded shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Cowen and Company reiterated a “hold” rating and set a $51.00 price target on shares of Forward Air Corporation in a research note on Thursday, August 10th. Finally, Wolfe Research lowered shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.25.
Shares of Forward Air Corporation (FWRD) traded up 0.19% on Wednesday, hitting $52.08. 70,956 shares of the stock were exchanged. The firm’s 50 day moving average price is $52.11 and its 200 day moving average price is $50.65. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 27.24 and a beta of 1.06. Forward Air Corporation has a one year low of $40.07 and a one year high of $56.52.
Forward Air Corporation (NASDAQ:FWRD) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The business had revenue of $267.50 million for the quarter, compared to the consensus estimate of $256.98 million. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Equities analysts anticipate that Forward Air Corporation will post $2.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 1.15%. Forward Air Corporation’s dividend payout ratio (DPR) is 31.25%.
In other Forward Air Corporation news, CAO Michael P. Mclean sold 2,495 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $52.00, for a total transaction of $129,740.00. Following the transaction, the chief accounting officer now directly owns 20,880 shares in the company, valued at approximately $1,085,760. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 1,718 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $52.99, for a total transaction of $91,036.82. Following the transaction, the director now owns 19,652 shares in the company, valued at $1,041,359.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,931 shares of company stock worth $1,183,921. 2.40% of the stock is owned by corporate insiders.
Forward Air Corporation Company Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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