Wall Street brokerages expect Knight-Swift Transportation Holdings Inc (NYSE:KNX) to post $1.33 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Knight-Swift Transportation’s earnings, with estimates ranging from $1.31 billion to $1.36 billion. Knight-Swift Transportation posted sales of $993.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 33.9%. The company is expected to report its next earnings report on Monday, July 23rd.
According to Zacks, analysts expect that Knight-Swift Transportation will report full year sales of $5.41 billion for the current year, with estimates ranging from $5.21 billion to $5.55 billion. For the next financial year, analysts expect that the firm will report sales of $5.80 billion per share, with estimates ranging from $5.47 billion to $6.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Knight-Swift Transportation.
Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. Knight-Swift Transportation had a net margin of 13.22% and a return on equity of 5.75%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company earned $0.18 EPS. The company’s revenue was up 368.7% compared to the same quarter last year.
Several brokerages have recently weighed in on KNX. Zacks Investment Research cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Stifel Nicolaus upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Monday, May 21st. ValuEngine lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. UBS Group raised their price target on shares of Knight-Swift Transportation from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 26th. Finally, Credit Suisse Group dropped their price target on shares of Knight-Swift Transportation from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, April 26th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Knight-Swift Transportation presently has a consensus rating of “Buy” and a consensus target price of $52.22.
Shares of KNX traded up $0.20 during mid-day trading on Tuesday, hitting $42.01. The company’s stock had a trading volume of 2,593,915 shares, compared to its average volume of 2,931,460. Knight-Swift Transportation has a 52-week low of $34.39 and a 52-week high of $51.94. The stock has a market capitalization of $7.49 billion, a PE ratio of 26.98, a PEG ratio of 1.22 and a beta of 1.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.45 and a current ratio of 1.45.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Friday, June 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 31st. Knight-Swift Transportation’s dividend payout ratio is currently 17.39%.
In other news, General Counsel Todd F. Carlson sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $40.05, for a total value of $200,250.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Kevin Quast sold 4,508 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $39.98, for a total transaction of $180,229.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,794 shares of company stock worth $3,954,288. Insiders own 27.50% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec raised its position in Knight-Swift Transportation by 17.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 56,209 shares of the transportation company’s stock valued at $2,457,000 after purchasing an additional 8,400 shares during the last quarter. State of Tennessee Treasury Department acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at about $4,809,000. Swiss National Bank lifted its holdings in Knight-Swift Transportation by 8.8% in the 4th quarter. Swiss National Bank now owns 490,696 shares of the transportation company’s stock valued at $21,453,000 after purchasing an additional 39,500 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Knight-Swift Transportation in the 4th quarter valued at about $10,345,000. Finally, Wells Fargo & Company MN lifted its holdings in Knight-Swift Transportation by 127.4% in the 4th quarter. Wells Fargo & Company MN now owns 236,727 shares of the transportation company’s stock valued at $10,350,000 after purchasing an additional 132,630 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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