Fintel reports that on April 10, 2023, Susquehanna maintained coverage of Forward Air (NASDAQ:FWRD) with a Positive recommendation.
Analyst Price Forecast Suggests 12.76% Upside
As of April 6, 2023, the average one-year price target for Forward Air is $121.55. The forecasts range from a low of $107.06 to a high of $136.50. The average price target represents an increase of 12.76% from its latest reported closing price of $107.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Forward Air is $2,036MM, an increase of 3.17%. The projected annual non-GAAP EPS is $7.20.
Forward Air Declares $0.24 Dividend
On February 7, 2023 the company declared a regular quarterly dividend of $0.24 per share ($0.96 annualized). Shareholders of record as of March 2, 2023 received the payment on March 17, 2023. Previously, the company paid $0.24 per share.
At the current share price of $107.80 / share, the stock's dividend yield is 0.89%. Looking back five years and taking a sample every week, the average dividend yield has been 1.07%, the lowest has been 0.70%, and the highest has been 1.64%. The standard deviation of yields is 0.18 (n=236).
The current dividend yield is 0.98 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
Miller Howard Investments holds 31K shares representing 0.12% ownership of the company. In it's prior filing, the firm reported owning 31K shares, representing an increase of 0.70%. The firm increased its portfolio allocation in FWRD by 3.31% over the last quarter.
New York State Common Retirement Fund holds 19K shares representing 0.07% ownership of the company. No change in the last quarter.
FSMAX - Fidelity Extended Market Index Fund holds 135K shares representing 0.52% ownership of the company. In it's prior filing, the firm reported owning 136K shares, representing a decrease of 0.89%. The firm increased its portfolio allocation in FWRD by 15.20% over the last quarter.
JESIX - Small Cap Index Trust NAV holds 5K shares representing 0.02% ownership of the company. No change in the last quarter.
RZG - Invesco S&P SmallCap 600 Pure Growth ETF holds 7K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing an increase of 0.68%. The firm increased its portfolio allocation in FWRD by 61.86% over the last quarter.
What is the Fund Sentiment?
There are 601 funds or institutions reporting positions in Forward Air.
This is an increase
of
45
owner(s) or 8.09% in the last quarter.
Average portfolio weight of all funds dedicated to FWRD is 0.35%,
an increase
of 54.40%.
Total shares owned by institutions decreased
in the last three months by 0.76% to 33,368K shares.
The put/call ratio of FWRD is 0.92, indicating a
bullish
outlook.
Forward Air Background Information
(This description is provided by the company.)
Forward Air Corporation is a leading asset-light freight and logistics company. It provides LTL, final mile, truckload, intermodal drayage and pool distribution services across the United States and in Canada. Headquartered in Greeneville, Tennessee, Forward operates approximately 200 facilities across the country and employs more than 5,200 people nationwide. It is more than a transportation company. As a single resource for your shipping needs, Forward is your supply chain partner.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
