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.

Several research analysts have recently commented on the company. BidaskClub raised Forward Air from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. Zacks Investment Research lowered Forward Air from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Deutsche Bank set a $73.00 target price on Forward Air and gave the stock a “buy” rating in a research note on Thursday, September 27th. ValuEngine raised Forward Air from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Stephens set a $70.00 target price on Forward Air and gave the stock a “buy” rating in a research note on Friday, July 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Forward Air presently has a consensus rating of “Buy” and an average target price of $68.75.

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).

Featured Story: What is a Reverse Stock Split?

Get a free copy of the Zacks research report on Forward Air (FWRD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Forward Air (NASDAQ:FWRD)

Receive News & Ratings for Forward Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forward Air and related companies with MarketBeat.com's FREE daily email newsletter.