Forward Air (NASDAQ:FWRD) Issues Q2 2022 Earnings Guidance

Forward Air (NASDAQ:FWRDGet Rating) updated its second quarter 2022 earnings guidance on Wednesday. The company provided EPS guidance of $1.63- for the period, compared to the consensus EPS estimate of $1.66. The company issued revenue guidance of -.

Shares of FWRD stock traded down $3.29 during mid-day trading on Wednesday, reaching $93.87. The stock had a trading volume of 87,261 shares, compared to its average volume of 176,982. The business’s fifty day moving average is $93.82 and its 200-day moving average is $102.61. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 19.35 and a beta of 1.16. Forward Air has a 1-year low of $80.56 and a 1-year high of $125.71.

Forward Air (NASDAQ:FWRDGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. The business had revenue of $466.96 million for the quarter, compared to analyst estimates of $453.60 million. Forward Air had a return on equity of 24.69% and a net margin of 7.77%. During the same period in the prior year, the company earned $0.60 earnings per share. On average, analysts forecast that Forward Air will post 6.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Thursday, May 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, May 25th. Forward Air’s dividend payout ratio is presently 19.12%.

A number of research analysts have recently weighed in on FWRD shares. StockNews.com raised Forward Air from a hold rating to a buy rating in a report on Monday, May 2nd. Susquehanna Bancshares dropped their target price on Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Susquehanna dropped their target price on Forward Air from $143.00 to $133.00 in a report on Friday, April 29th. Finally, Stifel Nicolaus raised Forward Air from a hold rating to a buy rating and raised their target price for the stock from $122.00 to $136.00 in a report on Thursday, April 28th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and an average price target of $136.86.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in Forward Air by 0.9% during the first quarter. BlackRock Inc. now owns 4,118,552 shares of the transportation company’s stock worth $402,713,000 after purchasing an additional 36,722 shares in the last quarter. Vanguard Group Inc. boosted its position in Forward Air by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,918,292 shares of the transportation company’s stock worth $285,351,000 after purchasing an additional 28,680 shares in the last quarter. Ancora Advisors LLC boosted its position in Forward Air by 18.2% during the first quarter. Ancora Advisors LLC now owns 1,753,799 shares of the transportation company’s stock worth $155,754,000 after purchasing an additional 269,446 shares in the last quarter. State Street Corp lifted its position in shares of Forward Air by 7.3% in the first quarter. State Street Corp now owns 1,056,548 shares of the transportation company’s stock valued at $103,309,000 after acquiring an additional 72,215 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Forward Air by 10.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 309,033 shares of the transportation company’s stock valued at $30,218,000 after acquiring an additional 29,269 shares in the last quarter. Institutional investors own 97.66% of the company’s stock.

About Forward Air (Get Rating)

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

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