Forward Air (FWRD) Posts Earnings Results, Beats Estimates By $0.12 EPS

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Forward Air (NASDAQ:FWRD) announced its quarterly earnings data on Thursday. The transportation company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.12, Bloomberg Earnings reports. Forward Air had a return on equity of 17.08% and a net margin of 6.97%. The business had revenue of $356.60 million during the quarter, compared to the consensus estimate of $347.16 million. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Forward Air updated its Q1 2019 guidance to $0.60-0.64 EPS and its Q1 guidance to $0.60-0.64 EPS.

Shares of Forward Air stock opened at $64.52 on Friday. Forward Air has a one year low of $51.00 and a one year high of $72.81. The stock has a market cap of $1.72 billion, a PE ratio of 20.68 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.66 and a quick ratio of 2.66.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, March 6th. Forward Air’s dividend payout ratio is presently 23.08%.

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in Forward Air by 13.2% in the fourth quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock valued at $98,000 after purchasing an additional 208 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Forward Air in the fourth quarter valued at approximately $99,000. Everence Capital Management Inc. acquired a new position in Forward Air in the third quarter valued at approximately $205,000. Verition Fund Management LLC acquired a new position in Forward Air in the third quarter valued at approximately $219,000. Finally, Paloma Partners Management Co acquired a new position in Forward Air in the third quarter valued at approximately $271,000. 96.52% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on FWRD. ValuEngine raised Forward Air from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised Forward Air from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. BidaskClub downgraded Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Stephens downgraded Forward Air from an “overweight” rating to an “equal” rating and lowered their price objective for the stock from $74.00 to $67.00 in a research report on Monday, October 29th. Finally, Stifel Nicolaus set a $68.00 price objective on Forward Air and gave the stock a “hold” rating in a research report on Thursday, October 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $68.75.

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About Forward Air

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 for Forward Air (NASDAQ:FWRD)

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