Knight-Swift Transportation (NYSE:KNX) Updates Q3 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.31-$0.35 for the period, compared to the consensus earnings per share estimate of $0.49. Knight-Swift Transportation also updated its Q2 guidance to $0.26-$0.30 EPS.

Knight-Swift Transportation Stock Performance

Shares of KNX stock traded down $0.72 during mid-day trading on Wednesday, reaching $48.51. The stock had a trading volume of 3,298,149 shares, compared to its average volume of 2,138,811. The business’s fifty day moving average is $54.15 and its 200-day moving average is $54.26. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.46 and a beta of 0.99. Knight-Swift Transportation has a 1-year low of $45.73 and a 1-year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its 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 for the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. On average, research analysts forecast that Knight-Swift Transportation will post 1.31 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.32%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 48.12%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Loop Capital lowered Knight-Swift Transportation from a buy rating to a hold rating and dropped their target price for the stock from $63.00 to $53.00 in a report on Thursday, April 18th. Stephens dropped their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a report on Thursday, April 18th. TD Cowen dropped their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. lowered their price target 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, Barclays lowered their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $57.77.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were 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 owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.00% 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.