Forward Air (NASDAQ:FWRD) Releases Q3 Earnings Guidance

Forward Air (NASDAQ:FWRD) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.40-44 for the period, compared to the Thomson Reuters consensus estimate of $0.51. Forward Air also updated its Q3 2020
After-Hours guidance to 0.40-0.44 EPS.

Several research analysts have commented on the stock. Wolfe Research raised shares of Forward Air from an underperform rating to a peer perform rating in a research note on Tuesday, June 9th. BidaskClub upgraded shares of Forward Air from a sell rating to a hold rating in a report on Tuesday, July 28th. Zacks Investment Research upgraded shares of Forward Air from a strong sell rating to a hold rating in a report on Wednesday, July 8th. Robert W. Baird cut their target price on shares of Forward Air from $60.00 to $54.00 and set an outperformer rating on the stock in a report on Monday, May 4th. Finally, Stifel Nicolaus raised their target price on shares of Forward Air from $45.00 to $52.00 and gave the stock a hold rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a hold rating, Forward Air has a consensus rating of Hold and a consensus target price of $57.81.

Shares of Forward Air stock traded down $0.86 on Friday, hitting $51.99. The stock had a trading volume of 184,904 shares, compared to its average volume of 128,665. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.44. Forward Air has a one year low of $39.59 and a one year high of $72.09. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 25.49 and a beta of 1.16. The stock’s 50-day simple moving average is $49.20 and its two-hundred day simple moving average is $53.59.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $281.68 million during the quarter, compared to the consensus estimate of $276.98 million. Forward Air had a net margin of 4.23% and a return on equity of 11.26%. As a group, equities analysts predict that Forward Air will post 1.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Thursday, August 20th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, August 19th. Forward Air’s dividend payout ratio (DPR) is currently 23.68%.

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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