Forward Air Co. (NASDAQ:FWRD – Get Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Investors 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 dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, May 25th.
Forward Air has raised its dividend 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% indicating that its dividend is sufficiently covered by earnings. 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%.
Forward Air stock opened at $98.00 on Friday. The firm has a 50 day simple moving average of $97.13 and a 200 day simple moving average of $103.09. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.28. Forward Air has a 1-year low of $80.56 and a 1-year high of $125.71. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 25.45 and a beta of 1.23.
Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in shares of Forward Air in the 4th quarter valued at $4,780,000. Morgan Stanley grew its stake in shares of Forward Air by 18.3% during the second quarter. Morgan Stanley now owns 136,764 shares of the transportation company’s stock valued at $12,275,000 after buying an additional 21,111 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Forward Air by 8.2% in the fourth quarter. Parametric Portfolio Associates LLC now owns 118,425 shares of the transportation company’s stock worth $14,340,000 after buying an additional 8,987 shares during the period. Sei Investments Co. lifted its stake in shares of Forward Air by 257.7% in the 4th quarter. Sei Investments Co. now owns 12,122 shares of the transportation company’s stock valued at $1,467,000 after acquiring an additional 8,733 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in Forward Air during the 3rd quarter valued at about $267,000. 98.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Susquehanna lowered their price target on shares of Forward Air from $143.00 to $133.00 in a report on Friday. Raymond James raised their price target on shares of Forward Air from $135.00 to $145.00 and gave the company a “strong-buy” rating in a report on Thursday, December 30th. StockNews.com lowered shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Sunday, April 10th. Robert W. Baird downgraded Forward Air from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $110.00 to $125.00 in a research report on Wednesday, January 5th. Finally, Wolfe Research cut Forward Air from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 6th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $136.71.
Forward Air Company Profile (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.
- Get a free copy of the StockNews.com research report on Forward Air (FWRD)
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