Forward Air Corporation (NASDAQ:FWRD) – Stock analysts at KeyCorp lowered their Q4 2017 earnings estimates for Forward Air Corporation in a report issued on Thursday. KeyCorp analyst T. Fowler now anticipates that the transportation company will earn $0.63 per share for the quarter, down from their prior forecast of $0.65. KeyCorp currently has a “Hold” rating on the stock.

Forward Air Corporation (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Forward Air Corporation had a return on equity of 13.76% and a net margin of 6.10%. The company had revenue of $280.20 million for the quarter, compared to analyst estimates of $278.75 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 12.3% compared to the same quarter last year.

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A number of other research firms also recently weighed in on FWRD. Stifel Nicolaus lifted their price target on shares of Forward Air Corporation from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Cowen and Company reiterated a “market perform” rating and issued a $54.00 price target (up from $51.00) on shares of Forward Air Corporation in a research report on Monday. Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Forward Air Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $60.00 price target on shares of Forward Air Corporation in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Forward Air Corporation presently has a consensus rating of “Hold” and a consensus price target of $55.33.

Forward Air Corporation (NASDAQ:FWRD) traded down 0.56% during midday trading on Monday, hitting $57.12. The stock had a trading volume of 52,244 shares. Forward Air Corporation has a 1-year low of $41.06 and a 1-year high of $59.97. The company’s 50 day moving average is $56.90 and its 200 day moving average is $53.24. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 29.87 and a beta of 1.12.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Forward Air Corporation by 157,904.2% in the first quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock valued at $180,917,000 after acquiring an additional 3,800,754 shares during the last quarter. Vanguard Group Inc. increased its stake in Forward Air Corporation by 0.6% in the second quarter. Vanguard Group Inc. now owns 2,694,979 shares of the transportation company’s stock valued at $143,589,000 after acquiring an additional 16,137 shares during the last quarter. Victory Capital Management Inc. increased its stake in Forward Air Corporation by 12.5% in the third quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after acquiring an additional 139,363 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Forward Air Corporation by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,210,821 shares of the transportation company’s stock valued at $64,513,000 after acquiring an additional 6,419 shares during the last quarter. Finally, State Street Corp increased its stake in Forward Air Corporation by 1.4% in the second quarter. State Street Corp now owns 785,118 shares of the transportation company’s stock valued at $41,835,000 after acquiring an additional 10,471 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

In related news, CAO Michael P. Mclean sold 15,718 shares of Forward Air Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.05, for a total value of $802,403.90. Following the transaction, the chief accounting officer now directly owns 20,559 shares of the company’s stock, valued at $1,049,536.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Mclean sold 4,984 shares of Forward Air Corporation stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $54.82, for a total transaction of $273,222.88. Following the completion of the transaction, the insider now directly owns 13,401 shares in the company, valued at $734,642.82. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 23rd will be given a $0.15 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. Forward Air Corporation’s payout ratio is 28.17%.

About Forward Air Corporation

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.

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

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