Forward Air Co. (NASDAQ:FWRD) – Seaport Global Securities dropped their Q1 2019 earnings per share estimates for shares of Forward Air in a research report issued to clients and investors on Friday, March 29th, Zacks Investment Research reports. Seaport Global Securities analyst K. Sterling now forecasts that the transportation company will post earnings per share of $0.58 for the quarter, down from their previous estimate of $0.62. Seaport Global Securities also issued estimates for Forward Air’s Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $3.25 EPS, Q1 2020 earnings at $0.68 EPS, Q2 2020 earnings at $0.98 EPS, Q3 2020 earnings at $0.97 EPS and Q4 2020 earnings at $1.07 EPS.
Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, February 7th. The transportation company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.12. The business had revenue of $356.60 million during the quarter, compared to analysts’ expectations of $347.16 million. Forward Air had a net margin of 6.97% and a return on equity of 16.97%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS.
FWRD traded up $0.18 during trading on Monday, hitting $68.12. 85,538 shares of the stock traded hands, compared to its average volume of 147,198. The stock has a market capitalization of $1.93 billion, a P/E ratio of 21.83 and a beta of 1.63. The company has a quick ratio of 2.66, a current ratio of 2.69 and a debt-to-equity ratio of 0.09. Forward Air has a 12-month low of $51.54 and a 12-month high of $72.81.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.72 dividend on an annualized basis and a yield of 1.06%. Forward Air’s dividend payout ratio is currently 23.08%.
In other Forward Air news, Chairman Bruce A. Campbell sold 18,208 shares of the firm’s stock in a transaction dated 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 approximately $7,931,812.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Chris C. Ruble sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $68.10, for a total transaction of $136,200.00. Following the sale, the chief operating officer now owns 26,363 shares of the company’s stock, valued at $1,795,320.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,087 shares of company stock valued at $2,842,670. 2.04% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC purchased a new stake in shares of Forward Air during the 4th quarter valued at about $42,000. Bank of Montreal Can boosted its holdings in shares of Forward Air by 13.2% during the 4th quarter. Bank of Montreal Can now owns 1,781 shares of the transportation company’s stock valued at $98,000 after acquiring an additional 208 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Forward Air during the 4th quarter valued at about $99,000. Verition Fund Management LLC purchased a new stake in shares of Forward Air during the 3rd quarter valued at about $219,000. Finally, Amalgamated Bank purchased a new stake in shares of Forward Air during the 4th quarter valued at about $252,000. 97.81% of the stock is currently owned by hedge funds and other institutional investors.
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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