KeyCorp Weighs in on Forward Air Co.’s Q1 2018 Earnings (FWRD)

Forward Air Co. (NASDAQ:FWRD) – Analysts at KeyCorp issued their Q1 2018 earnings estimates for Forward Air in a note issued to investors on Thursday. KeyCorp analyst T. Fowler expects that the transportation company will post earnings of $0.56 per share for the quarter. KeyCorp also issued estimates for Forward Air’s Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.79 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.00 EPS and FY2019 earnings at $3.35 EPS.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $301.47 million. Forward Air had a return on equity of 13.91% and a net margin of 7.93%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS.

A number of other equities analysts have also weighed in on FWRD. Stifel Nicolaus lifted their price objective on Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Cowen reiterated a “market perform” rating and set a $54.00 price objective (up previously from $51.00) on shares of Forward Air in a research note on Monday, October 30th. BidaskClub upgraded Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Stephens reiterated a “buy” rating and set a $80.00 price objective on shares of Forward Air in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $61.40.

Forward Air (NASDAQ FWRD) opened at $54.93 on Monday. The firm has a market capitalization of $1,635.38, a PE ratio of 19.01 and a beta of 1.17. Forward Air has a 52 week low of $45.86 and a 52 week high of $64.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71.

Several large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Forward Air during the 4th quarter valued at about $882,000. Rhumbline Advisers grew its position in shares of Forward Air by 12.6% during the 4th quarter. Rhumbline Advisers now owns 77,792 shares of the transportation company’s stock valued at $4,468,000 after acquiring an additional 8,722 shares during the period. Arizona State Retirement System grew its position in shares of Forward Air by 219.2% during the 4th quarter. Arizona State Retirement System now owns 50,036 shares of the transportation company’s stock valued at $2,874,000 after acquiring an additional 34,363 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Forward Air during the 4th quarter valued at about $362,000. Finally, Pinebridge Investments L.P. grew its position in shares of Forward Air by 180.7% during the 4th quarter. Pinebridge Investments L.P. now owns 10,555 shares of the transportation company’s stock valued at $606,000 after acquiring an additional 6,795 shares during the period. Hedge funds and other institutional investors own 95.88% of the company’s stock.

In other news, insider Chris C. Ruble sold 23,020 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $57.75, for a total transaction of $1,329,405.00. Following the sale, the insider now directly owns 28,279 shares in the company, valued at approximately $1,633,112.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bruce A. Campbell sold 28,744 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.25, for a total value of $1,616,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 91,909 shares of company stock worth $5,157,356 over the last 90 days. Insiders own 2.40% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 8th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, March 7th. Forward Air’s dividend payout ratio (DPR) is presently 20.76%.

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About Forward Air

Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.

Earnings History and Estimates for Forward Air (NASDAQ:FWRD)

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