Zacks: Analysts Anticipate Forward Air Co. (FWRD) Will Post Quarterly Sales of $350.02 Million
Wall Street brokerages forecast that Forward Air Co. (NASDAQ:FWRD) will announce sales of $350.02 million for the current quarter, according to Zacks. Five analysts have provided estimates for Forward Air’s earnings. The lowest sales estimate is $349.00 million and the highest is $351.30 million. Forward Air reported sales of $330.34 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The company is scheduled to report its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that Forward Air will report full year sales of $1.41 billion for the current financial year, with estimates ranging from $1.40 billion to $1.42 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.51 billion, with estimates ranging from $1.46 billion to $1.54 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 released its earnings results on Wednesday, April 24th. The transportation company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $321.47 million during the quarter, compared to analyst estimates of $324.22 million. Forward Air had a net margin of 6.92% and a return on equity of 16.88%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS.
Shares of NASDAQ FWRD traded up $0.09 during midday trading on Friday, reaching $58.00. 88,616 shares of the stock were exchanged, compared to its average volume of 158,515. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 18.59 and a beta of 1.59. Forward Air has a 12 month low of $51.54 and a 12 month high of $72.81. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.09.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.24%. Forward Air’s dividend payout ratio is 23.08%.
In related news, Chairman Bruce A. Campbell sold 8,240 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $65.20, for a total value of $537,248.00. Following the sale, the chairman now directly owns 93,732 shares of the company’s stock, valued at approximately $6,111,326.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bruce A. Campbell sold 18,208 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $66.05, for a total transaction of $1,202,638.40. Following the completion of the sale, the chairman now directly owns 120,088 shares in the company, valued at $7,931,812.40. The disclosure for this sale can be found here. Company insiders own 2.04% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Forward Air by 0.7% in the 4th quarter. BlackRock Inc. now owns 4,227,126 shares of the transportation company’s stock valued at $231,857,000 after acquiring an additional 28,208 shares in the last quarter. Vanguard Group Inc. lifted its position in Forward Air by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,917,550 shares of the transportation company’s stock valued at $209,189,000 after acquiring an additional 59,982 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Forward Air by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,301,207 shares of the transportation company’s stock valued at $84,227,000 after acquiring an additional 4,347 shares in the last quarter. Victory Capital Management Inc. lifted its position in Forward Air by 15.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,201,653 shares of the transportation company’s stock valued at $77,783,000 after acquiring an additional 157,120 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Forward Air by 0.6% in the 1st quarter. Royce & Associates LP now owns 935,779 shares of the transportation company’s stock valued at $60,573,000 after acquiring an additional 5,698 shares in the last quarter. 96.80% of the stock is currently 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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