Brokerages expect Knight-Swift Transportation Holdings Inc (NYSE:KNX) to announce $1.33 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Knight-Swift Transportation’s earnings, with the highest sales estimate coming in at $1.36 billion and the lowest estimate coming in at $1.31 billion. Knight-Swift Transportation reported sales of $993.06 million in the same quarter last year, which indicates a positive year over year growth rate of 33.9%. The company is expected to issue 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 financial year, with estimates ranging from $5.21 billion to $5.55 billion. For the next year, analysts forecast that the business 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 follow Knight-Swift Transportation.
Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 25th. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Knight-Swift Transportation had a net margin of 13.22% and a return on equity of 5.75%. The business’s revenue for the quarter was up 368.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday. ValuEngine upgraded shares of Knight-Swift Transportation from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. Credit Suisse Group dropped their target price on shares of Knight-Swift Transportation from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, April 26th. JPMorgan Chase & Co. upped their target price on shares of Knight-Swift Transportation from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. Finally, Goldman Sachs Group assumed coverage on shares of Knight-Swift Transportation in a research report on Tuesday, April 10th. They set a “neutral” rating and a $47.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Knight-Swift Transportation currently has a consensus rating of “Buy” and an average price target of $51.78.
Shares of Knight-Swift Transportation opened at $38.21 on Friday, Marketbeat Ratings reports. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.68. Knight-Swift Transportation has a 52 week low of $34.39 and a 52 week high of $51.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.45 and a quick ratio of 1.45.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 27th. Investors of record on Friday, June 1st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, May 31st. Knight-Swift Transportation’s dividend payout ratio is currently 17.39%.
In related news, insider Kevin P. Knight sold 69,217 shares of the company’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $40.04, for a total value of $2,771,448.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary J. Knight sold 15,000 shares of the company’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $40.22, for a total transaction of $603,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,794 shares of company stock valued at $3,954,288. 27.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Knight-Swift Transportation by 0.9% in the 1st quarter. BlackRock Inc. now owns 14,463,356 shares of the transportation company’s stock worth $665,459,000 after purchasing an additional 122,062 shares during the period. Millennium Management LLC boosted its stake in Knight-Swift Transportation by 334.8% in the 1st quarter. Millennium Management LLC now owns 3,670,747 shares of the transportation company’s stock worth $168,891,000 after purchasing an additional 2,826,495 shares during the period. Citadel Advisors LLC boosted its stake in Knight-Swift Transportation by 314.7% in the 1st quarter. Citadel Advisors LLC now owns 3,349,522 shares of the transportation company’s stock worth $154,112,000 after purchasing an additional 2,541,867 shares during the period. Victory Capital Management Inc. boosted its stake in Knight-Swift Transportation by 33.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,409,668 shares of the transportation company’s stock worth $110,869,000 after purchasing an additional 608,680 shares during the period. Finally, Northern Trust Corp boosted its stake in Knight-Swift Transportation by 2.2% in the 1st quarter. Northern Trust Corp now owns 2,238,790 shares of the transportation company’s stock worth $103,006,000 after purchasing an additional 47,843 shares during the period. 80.48% of the stock is owned by hedge funds and other 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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