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

Knight-Swift Transportation (NYSE:KNX) updated its third quarter earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus cut shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their price objective for the stock from $53.00 to $47.00 in a research note on Friday. Loop Capital cut shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their price objective for the stock from $63.00 to $53.00 in a research note on Thursday, April 18th. JPMorgan Chase & Co. dropped their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. Finally, Robert W. Baird decreased their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $57.71.

Knight-Swift Transportation Trading Down 0.5 %

Shares of KNX traded down $0.25 during mid-day trading on Friday, reaching $46.89. The company had a trading volume of 4,211,688 shares, compared to its average volume of 2,419,995. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 69.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99. The firm has a fifty day simple moving average of $53.52 and a 200-day simple moving average of $54.15. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The company has a current ratio of 0.93, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. On average, sell-side analysts anticipate that Knight-Swift Transportation will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm 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 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. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. Knight-Swift Transportation’s payout ratio is presently 95.52%.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation 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 transaction, the chief accounting officer now owns 5,118 shares in the company, valued at approximately $287,836.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

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.