Wall Street brokerages predict that Forward Air Co. (NASDAQ:FWRD) will report sales of $355.68 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Forward Air’s earnings. The highest sales estimate is $357.40 million and the lowest is $351.80 million. Forward Air posted sales of $331.38 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.3%. The business is expected to report its next earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Forward Air will report full year sales of $1.40 billion for the current fiscal year, with estimates ranging from $1.40 billion to $1.41 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.49 billion, with estimates ranging from $1.46 billion to $1.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Forward Air.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.04). Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $348.07 million. During the same period in the prior year, the company posted $0.82 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Forward Air from a “hold” rating to a “buy” rating in a research note on Tuesday, July 30th. Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

In related news, insider Glenn A. Adelaar sold 4,917 shares of Forward Air stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $61.05, for a total value of $300,182.85. Following the sale, the insider now directly owns 41,177 shares in the company, valued at approximately $2,513,855.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.04% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. raised its position in shares of Forward Air by 5.0% in the second quarter. Advisor Group Inc. now owns 3,412 shares of the transportation company’s stock valued at $201,000 after buying an additional 164 shares during the last quarter. Trexquant Investment LP grew its stake in Forward Air by 5.1% during the 2nd quarter. Trexquant Investment LP now owns 3,548 shares of the transportation company’s stock valued at $210,000 after acquiring an additional 172 shares in the last quarter. Mason Street Advisors LLC grew its stake in Forward Air by 2.0% during the 1st quarter. Mason Street Advisors LLC now owns 9,246 shares of the transportation company’s stock valued at $598,000 after acquiring an additional 177 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Forward Air by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,510 shares of the transportation company’s stock valued at $681,000 after acquiring an additional 200 shares during the last quarter. Finally, Stone Ridge Asset Management LLC raised its holdings in Forward Air by 1.8% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 11,442 shares of the transportation company’s stock valued at $677,000 after acquiring an additional 200 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

FWRD traded up $0.46 during midday trading on Friday, hitting $64.81. 171,178 shares of the company were exchanged, compared to its average volume of 158,160. The company’s 50 day simple moving average is $61.28 and its 200 day simple moving average is $61.56. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 20.77 and a beta of 1.54. Forward Air has a 1-year low of $51.54 and a 1-year high of $72.81. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29.

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.72 annualized dividend and a dividend yield of 1.11%. Forward Air’s dividend payout ratio (DPR) is presently 23.08%.

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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