Forward Air Co. (NASDAQ:FWRD) announced a quarterly dividend on Tuesday, October 22nd, Fidelity reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.18 per share by the transportation company on Friday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, November 20th.
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Shares of NASDAQ FWRD traded up $1.03 during trading hours on Monday, reaching $70.44. 1,449 shares of the stock traded hands, compared to its average volume of 144,933. The company’s 50-day simple moving average is $66.79 and its two-hundred day simple moving average is $62.02. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.33. Forward Air has a 52-week low of $51.54 and a 52-week high of $72.09. The company has a market capitalization of $1.95 billion, a P/E ratio of 22.36 and a beta of 1.54.
Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results on Thursday, October 24th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Forward Air had a return on equity of 17.06% and a net margin of 6.54%. The business had revenue of $361.70 million for the quarter, compared to analyst estimates of $354.91 million. During the same period last year, the company earned $0.76 EPS. Forward Air’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Forward Air will post 3.23 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on FWRD shares. Zacks Investment Research lowered Forward Air from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub upgraded Forward Air from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird set a $75.00 price target on Forward Air and gave the stock a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.67.
In related news, insider Glenn A. Adelaar sold 4,917 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $61.05, for a total transaction of $300,182.85. Following the completion of the sale, the insider now owns 41,177 shares in the company, valued at $2,513,855.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.04% of the stock is currently owned by corporate insiders.
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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