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

Knight-Swift Transportation (NYSE:KNX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.260-0.300 for the period, compared to the consensus earnings per share estimate of 0.480. The company issued revenue guidance of -. Knight-Swift Transportation also updated its Q1 2024 guidance to 0.190-0.200 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Susquehanna cut their target price on Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a research note on Monday, March 25th. Stifel Nicolaus upped their target price on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Barclays cut their target price on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. cut their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation has an average rating of Moderate Buy and a consensus price target of $62.75.

Knight-Swift Transportation Stock Down 4.1 %

Knight-Swift Transportation stock traded down $2.07 during mid-day trading on Wednesday, reaching $48.71. 9,669,956 shares of the company were exchanged, compared to its average volume of 2,042,454. The business has a fifty day moving average of $55.30 and a 200 day moving average of $54.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $7.87 billion, a P/E ratio of 38.18, a PEG ratio of 1.44 and a beta of 0.99. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The business 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%. Research analysts anticipate that Knight-Swift Transportation will post 2.35 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.31%. This is an increase 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 is presently 48.12%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Knight-Swift Transportation by 8.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 190 shares during the period. Belpointe Asset Management LLC boosted its holdings in Knight-Swift Transportation by 21.8% in the 1st quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock worth $73,000 after buying an additional 230 shares during the last quarter. Pathstone Family Office LLC boosted its holdings in Knight-Swift Transportation by 4.8% in the 4th quarter. Pathstone Family Office LLC now owns 5,795 shares of the transportation company’s stock worth $298,000 after buying an additional 266 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Knight-Swift Transportation by 2.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,922 shares of the transportation company’s stock worth $731,000 after buying an additional 297 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Knight-Swift Transportation by 2.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 12,147 shares of the transportation company’s stock worth $675,000 after purchasing an additional 302 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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.