Knight-Swift Transportation (NYSE:KNX) Releases Q2 2024 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.260-0.300 for the period, compared to the consensus estimate of 0.480. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KNX. Bank of America decreased their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a report on Thursday. TD Cowen decreased their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday. Stephens decreased their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a report on Thursday. JPMorgan Chase & Co. decreased their price target on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. Finally, Barclays decreased their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $57.77.

Knight-Swift Transportation Trading Down 1.3 %

Shares of Knight-Swift Transportation stock opened at $47.88 on Friday. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 1.40 and a beta of 0.99. The business has a 50-day moving average price of $54.83 and a 200-day moving average price of $54.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99.

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

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.34%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 48.12%.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in KNX. Raymond James & Associates lifted its stake in Knight-Swift Transportation by 22.1% in the first quarter. Raymond James & Associates now owns 76,395 shares of the transportation company’s stock worth $3,855,000 after purchasing an additional 13,808 shares during the last quarter. US Bancorp DE lifted its stake in Knight-Swift Transportation by 57.6% in the first quarter. US Bancorp DE now owns 14,450 shares of the transportation company’s stock worth $729,000 after purchasing an additional 5,283 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Knight-Swift Transportation by 23.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company’s stock worth $706,000 after purchasing an additional 2,677 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Knight-Swift Transportation by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 211,351 shares of the transportation company’s stock worth $11,126,000 after purchasing an additional 7,824 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Knight-Swift Transportation by 6.7% in the first quarter. Sei Investments Co. now owns 141,380 shares of the transportation company’s stock worth $7,135,000 after purchasing an additional 8,923 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

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.