Forward Air (NASDAQ:FWRD) Updates Q3 Earnings Guidance

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

Several equities analysts recently weighed in on FWRD shares. Zacks Investment Research upgraded shares of Forward Air from a strong sell rating to a hold rating in a report on Wednesday, July 8th. Wolfe Research upgraded shares of Forward Air from an underperform rating to a peer perform rating in a report on Tuesday, June 9th. Stifel Nicolaus increased their price objective on shares of Forward Air from $45.00 to $52.00 and gave the company a hold rating in a report on Friday, July 24th. 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, BidaskClub upgraded shares of Forward Air from a sell rating to a hold rating in a report on Tuesday, July 28th. Four research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and a consensus price target of $57.81.

Shares of Forward Air stock traded down $0.86 during midday trading on Friday, hitting $51.99. 184,904 shares of the company traded hands, compared to its average volume of 128,665. 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 company has a debt-to-equity ratio of 0.44, a quick ratio of 1.68 and a current ratio of 1.68. The firm’s fifty day moving average price is $49.20 and its 200-day moving average price is $53.59. Forward Air has a 12 month low of $39.59 and a 12 month high of $72.09.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Thursday, July 30th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $281.68 million for 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%. Equities research analysts forecast that Forward Air will post 1.48 earnings per share for the current 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, August 19th. Forward Air’s dividend payout ratio (DPR) is presently 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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