Forward Air Corp. (NASDAQ:FWRD) will be releasing its Q316 earnings data on Thursday, October 20th. Analysts expect Forward Air Corp. to post earnings of $0.58 per share and revenue of $250.36 million for the quarter. Forward Air Corp. has set its Q3 guidance at $0.61-0.65 EPS.
Forward Air Corp. (NASDAQ:FWRD) last issued its earnings results on Thursday, July 21st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.01. Forward Air Corp. had a return on equity of 14.41% and a net margin of 4.32%. The firm had revenue of $238.60 million for the quarter, compared to analysts’ expectations of $247.86 million. On average, analysts expect Forward Air Corp. to post $2.12 EPS for the current fiscal year and $2.48 EPS for the next fiscal year.
Forward Air Corp. (NASDAQ:FWRD) opened at 42.27 on Tuesday. Forward Air Corp. has a 52 week low of $36.00 and a 52 week high of $50.47. The stock has a market capitalization of $1.28 billion, a P/E ratio of 31.10 and a beta of 1.30. The firm’s 50-day moving average is $44.34 and its 200-day moving average is $45.08.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Forward Air Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. TheStreet downgraded shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Cowen and Company cut their price objective on shares of Forward Air Corp. from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Tuesday, September 20th. Finally, BB&T Corp. downgraded shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Forward Air Corp. presently has a consensus rating of “Hold” and a consensus price target of $50.00.
In related news, CAO Michael P. Mclean sold 14,779 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $46.01, for a total value of $679,981.79. Following the sale, the chief accounting officer now directly owns 32,228 shares of the company’s stock, valued at approximately $1,482,810.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Bruce A. Campbell sold 80,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $46.50, for a total transaction of $3,720,000.00. Following the completion of the sale, the chairman now directly owns 260,137 shares in the company, valued at $12,096,370.50. The disclosure for this sale can be found here. Insiders own 3.35% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Forward Air Corp. by 1,489.3% in the second quarter. FMR LLC now owns 208,200 shares of the company’s stock worth $9,271,000 after buying an additional 195,100 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of Forward Air Corp. by 5.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 775,504 shares of the company’s stock worth $34,533,000 after buying an additional 37,656 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Forward Air Corp. by 0.9% in the second quarter. BlackRock Fund Advisors now owns 1,926,422 shares of the company’s stock worth $85,784,000 after buying an additional 18,047 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of Forward Air Corp. during the second quarter worth approximately $625,000. Finally, KCG Holdings Inc. acquired a new stake in shares of Forward Air Corp. during the second quarter worth approximately $499,000. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
About Forward Air Corp.
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.
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