Forward Air Co. (NASDAQ:FWRD) Declares $0.24 Quarterly Dividend

Forward Air Co. (NASDAQ:FWRDGet Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Shareholders of record on Thursday, May 26th will be paid a dividend of 0.24 per share by the transportation company on Tuesday, June 14th. This represents a $0.96 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, May 25th.

Forward Air has increased its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 1 years. Forward Air has a dividend payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Forward Air to earn $6.45 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 14.9%.

Shares of Forward Air stock opened at $98.00 on Friday. The firm has a market cap of $2.63 billion, a PE ratio of 25.45 and a beta of 1.23. Forward Air has a 12-month low of $80.56 and a 12-month high of $125.71. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $97.13 and its two-hundred day simple moving average is $103.09.

Forward Air (NASDAQ:FWRDGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.41. Forward Air had a net margin of 6.37% and a return on equity of 20.80%. During the same period last year, the firm posted $0.60 EPS. As a group, sell-side analysts expect that Forward Air will post 5.8 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Forward Air by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 37,507 shares of the transportation company’s stock worth $4,542,000 after acquiring an additional 469 shares in the last quarter. Royal Bank of Canada boosted its stake in Forward Air by 15.9% during the third quarter. Royal Bank of Canada now owns 4,727 shares of the transportation company’s stock worth $392,000 after acquiring an additional 650 shares in the last quarter. Legal & General Group Plc boosted its stake in Forward Air by 2.5% during the fourth quarter. Legal & General Group Plc now owns 77,112 shares of the transportation company’s stock worth $9,338,000 after acquiring an additional 1,858 shares in the last quarter. LPL Financial LLC boosted its stake in Forward Air by 70.9% during the fourth quarter. LPL Financial LLC now owns 5,491 shares of the transportation company’s stock worth $665,000 after acquiring an additional 2,278 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Forward Air in the third quarter worth about $231,000. 98.01% of the stock is currently owned by institutional investors and hedge funds.

FWRD has been the topic of a number of research reports. Susquehanna cut their target price on shares of Forward Air from $143.00 to $133.00 in a research note on Friday. Raymond James lifted their target price on shares of Forward Air from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 30th. StockNews.com lowered shares of Forward Air from a “buy” rating to a “hold” rating in a research note on Sunday, April 10th. Wolfe Research lowered shares of Forward Air from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 6th. Finally, Stephens raised shares of Forward Air from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $115.00 to $165.00 in a research note on Tuesday, January 4th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Forward Air presently has a consensus rating of “Buy” and an average price target of $136.71.

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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Dividend History for Forward Air (NASDAQ:FWRD)

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