Forward Air (NASDAQ:FWRD) Releases Earnings Results, Beats Expectations By $0.21 EPS

Forward Air (NASDAQ:FWRD) issued its quarterly earnings data on Monday. The transportation company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.21, FiscalAI reports. The business had revenue of $673.86 million during the quarter, compared to analysts’ expectations of $673.40 million. Forward Air had a negative net margin of 11.37% and a negative return on equity of 19.49%.

Forward Air Stock Performance

Shares of NASDAQ FWRD traded up $1.01 during mid-day trading on Monday, hitting $17.65. The company had a trading volume of 481,932 shares, compared to its average volume of 821,474. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32. The business’s 50-day simple moving average is $16.05 and its 200-day simple moving average is $17.48. Forward Air has a 12 month low of $7.86 and a 12 month high of $31.17. The firm has a market cap of $558.18 million, a P/E ratio of -1.98 and a beta of 1.31.

Analyst Ratings Changes

Several brokerages recently commented on FWRD. Susquehanna dropped their target price on shares of Forward Air from $29.00 to $25.00 and set a “positive” rating on the stock in a report on Friday, October 2nd. Stifel Nicolaus set a $27.00 price target on shares of Forward Air in a report on Thursday, October 29th. Wall Street Zen raised Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Forward Air from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Finally, Zacks Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Forward Air presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

About Forward Air

Forward Air Corporation (NASDAQ: FWRD) is a transportation and logistics company that provides time-definite freight and supply chain services. Its offerings include expedited less-than-truckload transportation, truckload services, intermodal and drayage operations, final-mile delivery, and other logistics solutions designed for shipments requiring reliable transit times.

The company serves businesses across North America and supports domestic and international supply chains through a network of terminals, transportation partners, and logistics facilities.