Knight-Swift Transportation Holdings Inc. Declares Quarterly Dividend of $0.16 (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 10th will be given a dividend of 0.16 per share by the transportation company on Monday, June 24th. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, June 10th.

Knight-Swift Transportation has increased its dividend by an average of 20.5% per year over the last three years and has increased its dividend every year for the last 5 years. Knight-Swift Transportation has a payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Knight-Swift Transportation to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 22.1%.

Knight-Swift Transportation Trading Up 0.4 %

NYSE KNX traded up $0.17 on Thursday, hitting $47.07. 1,748,252 shares of the stock were exchanged, compared to its average volume of 2,181,050. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.93. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99. The firm has a market capitalization of $7.60 billion, a P/E ratio of 69.99, a P/E/G ratio of 2.40 and a beta of 1.03. The stock has a fifty day moving average price of $52.89 and a two-hundred day moving average price of $54.15.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. Knight-Swift Transportation’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. Research analysts forecast that Knight-Swift Transportation will post 1.29 EPS for the current fiscal year.

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

KNX has been the topic of several recent analyst reports. Stifel Nicolaus downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price target for the stock from $53.00 to $47.00 in a report on Friday, April 26th. JPMorgan Chase & Co. reduced 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. Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $63.00 to $53.00 in a research report on Thursday, April 18th. Bank of America cut their price target on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Robert W. Baird decreased their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.71.

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.