Forward Air Co. (NASDAQ:FWRD) declared a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Shareholders of record on Thursday, March 5th will be given a dividend of 0.18 per share by the transportation company on Friday, March 20th. This represents a $0.72 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 4th.
Forward Air has raised its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 4 years. Forward Air has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Forward Air to earn $3.86 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 18.7%.
Forward Air stock opened at $63.53 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.54 and a current ratio of 1.72. The stock has a fifty day moving average of $68.09 and a two-hundred day moving average of $65.93. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 20.83 and a beta of 1.50. Forward Air has a fifty-two week low of $55.06 and a fifty-two week high of $72.09.
Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Thursday, February 6th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.08). The company had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $384.28 million. Forward Air had a return on equity of 16.25% and a net margin of 6.18%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. On average, analysts forecast that Forward Air will post 3.61 EPS for the current fiscal year.
A number of equities research analysts have recently commented on FWRD shares. Zacks Investment Research downgraded Forward Air from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens lowered their price objective on Forward Air from $81.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday. Robert W. Baird set a $75.00 price objective on Forward Air and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, BidaskClub downgraded Forward Air from a “sell” rating to a “strong sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.50.
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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