$346.27 Million in Sales Expected for Forward Air Co. (FWRD) This Quarter
Equities analysts predict that Forward Air Co. (NASDAQ:FWRD) will announce $346.27 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Forward Air’s earnings, with the lowest sales estimate coming in at $339.60 million and the highest estimate coming in at $352.72 million. Forward Air reported sales of $306.12 million in the same quarter last year, which indicates a positive year over year growth rate of 13.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 6th.
On average, analysts expect that Forward Air will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.30 billion to $1.32 billion. For the next year, analysts forecast that the firm will report sales of $1.41 billion, with estimates ranging from $1.39 billion to $1.45 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Forward Air.
Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.80 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. Forward Air had a return on equity of 15.63% and a net margin of 7.85%. The company had revenue of $331.38 million during the quarter, compared to analyst estimates of $327.81 million.
Shares of NASDAQ FWRD opened at $60.67 on Wednesday. Forward Air has a 12 month low of $49.88 and a 12 month high of $72.81. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.79 billion, a PE ratio of 26.01 and a beta of 1.52.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be paid a $0.18 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $0.72 annualized dividend and a yield of 1.19%. This is a positive change from Forward Air’s previous quarterly dividend of $0.15. Forward Air’s dividend payout ratio is currently 25.42%.
In other Forward Air news, insider Matthew J. Jewell sold 8,080 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $63.00, for a total value of $509,040.00. Following the completion of the sale, the insider now owns 51,409 shares of the company’s stock, valued at $3,238,767. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Bruce A. Campbell sold 8,790 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $64.53, for a total value of $567,218.70. Following the completion of the sale, the chairman now directly owns 138,442 shares of the company’s stock, valued at approximately $8,933,662.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,985 shares of company stock valued at $2,310,672. 1.95% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Sun Life Financial INC purchased a new stake in shares of Forward Air during the second quarter valued at approximately $142,000. Everence Capital Management Inc. purchased a new stake in shares of Forward Air during the third quarter valued at approximately $205,000. Royal Bank of Canada boosted its stake in shares of Forward Air by 281.0% during the first quarter. Royal Bank of Canada now owns 2,995 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 2,209 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Forward Air by 57.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,605 shares of the transportation company’s stock valued at $330,000 after purchasing an additional 1,679 shares during the period. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Forward Air during the second quarter valued at approximately $357,000. 94.04% of the stock is owned by institutional investors and hedge funds.
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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