Brokerages expect Forward Air Co. (NASDAQ:FWRD) to report earnings of $0.79 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Forward Air’s earnings. The lowest EPS estimate is $0.78 and the highest is $0.80. Forward Air posted earnings of $0.60 per share in the same quarter last year, which would indicate a positive year over year growth rate of 31.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Forward Air will report full year earnings of $3.13 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.16. For the next year, analysts expect that the company will report earnings of $3.47 per share, with EPS estimates ranging from $3.35 to $3.59. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Forward Air.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. The business had revenue of $330.30 million for the quarter, compared to the consensus estimate of $314.08 million. Forward Air had a return on equity of 15.16% and a net margin of 7.84%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS.

Several brokerages have weighed in on FWRD. BidaskClub raised Forward Air from a “hold” rating to a “buy” rating in a research note on Wednesday, August 1st. ValuEngine raised Forward Air from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Stephens set a $70.00 target price on Forward Air and gave the company a “buy” rating in a research note on Friday, July 27th. Stifel Nicolaus lifted their target price on Forward Air from $64.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research raised Forward Air from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Friday, July 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Forward Air has an average rating of “Buy” and a consensus price target of $63.80.

Forward Air traded up $0.03, hitting $63.06, during mid-day trading on Friday, MarketBeat reports. 100,539 shares of the company’s stock traded hands, compared to its average volume of 146,564. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.78 and a quick ratio of 2.78. The company has a market capitalization of $1.86 billion, a P/E ratio of 26.72 and a beta of 1.39. Forward Air has a one year low of $49.88 and a one year high of $64.99.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Thursday, August 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, August 22nd. Forward Air’s payout ratio is currently 25.42%.

In other news, insider Matthew J. Jewell sold 2,328 shares of Forward Air stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $60.00, for a total transaction of $139,680.00. Following the transaction, the insider now directly owns 40,265 shares in the company, valued at approximately $2,415,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Chris C. Ruble sold 2,000 shares of Forward Air stock in a transaction on Monday, July 30th. The shares were sold at an average price of $62.50, for a total value of $125,000.00. Following the transaction, the chief operating officer now owns 26,338 shares in the company, valued at $1,646,125. The disclosure for this sale can be found here. Insiders have sold a total of 37,595 shares of company stock worth $2,300,553 in the last ninety days. 1.95% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its position in shares of Forward Air by 22.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the transportation company’s stock valued at $293,000 after purchasing an additional 1,000 shares during the period. Swiss National Bank grew its holdings in shares of Forward Air by 2.1% in the 1st quarter. Swiss National Bank now owns 52,700 shares of the transportation company’s stock worth $2,786,000 after acquiring an additional 1,100 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Forward Air by 11.9% in the 1st quarter. SG Americas Securities LLC now owns 11,537 shares of the transportation company’s stock worth $610,000 after acquiring an additional 1,231 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Forward Air by 27.9% in the 1st quarter. Profund Advisors LLC now owns 5,948 shares of the transportation company’s stock worth $314,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Summit Global Investments grew its holdings in shares of Forward Air by 13.0% in the 2nd quarter. Summit Global Investments now owns 11,300 shares of the transportation company’s stock worth $668,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.

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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