Knight-Swift Transportation (NYSE:KNX) Issues Q1 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its first quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.190-0.200 for the period, compared to the consensus EPS estimate of 0.290. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KNX. Barclays dropped their price target on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a research note on Monday, April 1st. Stifel Nicolaus boosted their price target on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. dropped their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Finally, Susquehanna dropped their target price on Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $62.75.

Knight-Swift Transportation Trading Down 4.3 %

Shares of NYSE:KNX opened at $48.58 on Thursday. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The company has a market capitalization of $7.85 billion, a PE ratio of 36.53, a PEG ratio of 1.47 and a beta of 0.99. The business has a 50 day moving average of $55.07 and a two-hundred day moving average of $54.23. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. As a group, analysts forecast that Knight-Swift Transportation will post 2.3 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. Knight-Swift Transportation’s payout ratio is presently 48.12%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Knight-Swift Transportation during the 4th quarter worth approximately $33,000. Brown Brothers Harriman & Co. raised its stake in shares of Knight-Swift Transportation by 543.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after buying an additional 793 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of Knight-Swift Transportation during the 2nd quarter worth approximately $61,000. Belpointe Asset Management LLC raised its stake in shares of Knight-Swift Transportation by 21.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock worth $73,000 after buying an additional 230 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Knight-Swift Transportation by 13,727.3% during the 3rd quarter. Lazard Asset Management LLC now owns 1,521 shares of the transportation company’s stock worth $76,000 after buying an additional 1,510 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.