Wall Street analysts predict that Swift Transportation Company (NYSE:KNX) will announce earnings per share of $0.30 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Swift Transportation’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.27. Swift Transportation posted earnings per share of $0.47 in the same quarter last year, which indicates a negative year over year growth rate of 36.2%. The firm is expected to report its next earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Swift Transportation will report full year earnings of $1.16 per share for the current financial year, with EPS estimates ranging from $1.15 to $1.17. For the next fiscal year, analysts expect that the firm will post earnings of $1.75 per share, with EPS estimates ranging from $1.65 to $1.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Swift Transportation.
Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm had revenue of $273.20 million during the quarter, compared to the consensus estimate of $283.88 million. During the same quarter in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis.
KNX has been the subject of several research analyst reports. BidaskClub raised Swift Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Barclays PLC increased their price objective on Swift Transportation from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Monday, October 2nd. ValuEngine downgraded Swift Transportation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised Swift Transportation from a “sell” rating to a “hold” rating and set a $41.00 price objective for the company in a research note on Wednesday, July 5th. Finally, UBS AG increased their price objective on Swift Transportation from $43.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Swift Transportation currently has a consensus rating of “Buy” and an average target price of $40.41.
Swift Transportation (NYSE:KNX) opened at 41.38 on Friday. The company has a 50-day moving average of $40.23 and a 200 day moving average of $36.61. The firm has a market cap of $3.34 billion, a P/E ratio of 42.66 and a beta of 1.97. Swift Transportation has a 52 week low of $28.04 and a 52 week high of $44.45.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, August 30th.
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In other Swift Transportation news, General Counsel Todd F. Carlson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $37.86, for a total value of $113,580.00. Following the sale, the general counsel now owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.52, for a total value of $68,475.00. Following the completion of the sale, the director now directly owns 56,011 shares in the company, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Swift Transportation by 9.5% during the 1st quarter. Geode Capital Management LLC now owns 508,907 shares of the transportation company’s stock worth $15,953,000 after purchasing an additional 44,148 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Swift Transportation by 10,372.6% during the 2nd quarter. Citadel Advisors LLC now owns 1,219,634 shares of the transportation company’s stock worth $45,187,000 after purchasing an additional 1,207,988 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Swift Transportation by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock worth $178,353,000 after purchasing an additional 275,392 shares in the last quarter. Timpani Capital Management LLC grew its holdings in shares of Swift Transportation by 233.9% during the 2nd quarter. Timpani Capital Management LLC now owns 73,624 shares of the transportation company’s stock worth $2,728,000 after purchasing an additional 51,575 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Swift Transportation by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 157,941 shares of the transportation company’s stock worth $5,852,000 after purchasing an additional 5,522 shares in the last quarter.
About Swift Transportation
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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